USOIL broke major downtrendline
Bullish wave (A) ended at level 52.00
then corrective bearish wave (B) occurred
Price rejected after from moving average 100 and key level at 50.55
Price is above HVN at level 50.79 which indicates that usoil is in accumulation phase and preparing for coming explosion
MACD shows weakness in bearish momentum
RSI is above level 50
It's expected for price going up towards level 53.20 forming bullish wave (C)
Bullish wave (A) ended at level 52.00
then corrective bearish wave (B) occurred
Price rejected after from moving average 100 and key level at 50.55
Price is above HVN at level 50.79 which indicates that usoil is in accumulation phase and preparing for coming explosion
MACD shows weakness in bearish momentum
RSI is above level 50
It's expected for price going up towards level 53.20 forming bullish wave (C)