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USOIL Chart on the hourtly time frame

Yesterday, we expected the upward trend to continue as long as the price maintained trading above 69.90, reaching the first target of 73.00. This was achieved, but the price faced strong rejection near the 74.30 area and has now rebounded to the 70.70 area.

• The price is moving within an ascending sloping channel.
• The MACD indicator shows a clear negative divergence, suggesting a correction.
• The price remains within the channel, but the break of the moving average indicates the beginning of a weakening upward momentum.

Expectation:

• As long as the price remains below 72.50, the trend is likely to be corrected.
• A break of the temporary bottom at 68.80 could push the price towards: 67.20 - 65.80 - 63.30
• However, if the price returns above 72.50, we could witness a rise towards: 73.80 - 75.00 - 76.30

USTEC chart on the hourly time frame The Nasdaq was able to achieve our first target yesterday at 21890 and then retreated from 21979. As we explained yesterday, the index is moving within a descending triangle and is showing weak upward momentum: The current price is at 21831 after a good rebound from the 21450 levels. The highs are still decreasing, indicating a possible continuation of the correction. The MACD indicator has shown a recovery, but the upper boundary of the triangle has not yet been broken. Expectations: If 21950 is not breached, the price may return to decline. A break of 21450 will open the way to: 21300 - 21150 - 20900. However, if 21950 is broken and holds above it, it may target: 22050 - 22220 - 22400.