USOIL has been going through hard times after being rejected at the gap area mentioned in earlier posts. It has now approached an area of buyers' interest it seems. The $50 mark failing to support the price can be interpreted as a longterm 38.20% pullback continuation sell setup. For now, the 5125 area is of interest, if that goes, the 5050 area.
Comment:
Touched 5122 and demand rushed in
Comment:
A full 360º rotation on Square of 9 achieved. Perhaps another push, but long short risk is increasing at these levels.