USOIL long again

I do not have a very compelling analysis, the count is not clear. Though with all these MA penetrating price action like a kebab stick and 200MA support on W it feels that the price will go up. I certainly keep seeing the bullish potential of volatile oil stocks like APA, RIG and REI that in my opinion are bottoming.

Comment:

Comment:

As I said in the earlier post oil is veeeery choppy these days and almost impossible to trade. But excellent opportunity to practise EW counting skills! Despite depressive price action 200MA support along with waves subdivisions makes me stay neutral/bullish on oil in the short run. It can be some sudden news that will spark another rally.

Comment:

a better count is here