Hello traders,
USOIL made a strong bearish signal on monthly chart.
Check this first.
But on 4h chart, it seems it just finished a sideways movement and pushing price up to test the 4h R1 soon.
On that case, it still wont change the fact that USOIL is still running in a downtrend channel and could test 44-54 in months.
The green channel is now working as a corrective wave inside the rend main trend.
Good luck on such short term trade.
LESS IS MORE!
USOIL made a strong bearish signal on monthly chart.
Check this first.
But on 4h chart, it seems it just finished a sideways movement and pushing price up to test the 4h R1 soon.
On that case, it still wont change the fact that USOIL is still running in a downtrend channel and could test 44-54 in months.
The green channel is now working as a corrective wave inside the rend main trend.
Good luck on such short term trade.
LESS IS MORE!