USOUSD 19 Jan 2024 on the weekly timeframe, looks like oil is still unable to regain strength and continues to resume sideways moving. However, this commodity is trying to initiate bullish to break the kumo cloud on the ichimoku indicator. If the bullish trend continues successfully and oil keeps rallying then go-long could be an option for traders. However, if there is a trend reversal and the commodity declines back towards the support line, then go-short is an option. Keep an eye on the market movements and consider all possibilities before making a trading decision.
