The price of usoil is declining slightly after reaching its high at 69.79
We have already exploited the trend in all its strength in previous trades (see post of the past days) and now we try to take advantage of another small moment of price recharge, in a cyclical phase that still prefers buying to selling.
Let’s identify the last relevant vector of this upward trend, and we see that on May 21st from the minimum of 61.47 the price stopped only yesterday at the maximum of 69.79, personally but also cyclically the price MUST point to the upper floors (72.84 approximately) and we will use the price dip that started yesterday to look for the best long entry price.
Pulling on the chart a Fibonacci retracement we look for the 38.2% which marks 66.61 and we notice that it falls right near the support at 66.13, so 66.5 will be our long entry point.
From now on I will update this signal daily on the Naga Wallet until these levels are reached or alternatively their cancellation (out of cyclic time).