Will USOIL bounce at $40?

This is not a trading advice. It's just my idea of trading USOIL.

I'm following this channel and it worked so far.

Considering the EU Covid Salvation deal, I see no reason for USOIL to drop hard.

I expect it to drop around $1, to $40, where the middle of the channel is.

Afterwards, I hope it goes up to $43,5. There, we have the fib and also a strong resistance.

It it breaks that resistance, I expect to see $49.

If it gets rejected, it may drop to $36,5 and that go up to $50.

Only the time will tell.