FlowState

USOil is approaching support, potential bounce!

Long
TVC:USOIL   CFDs on WTI Crude Oil
USOil is approaching our first support at 65.17 (horizontal swing low support, 100% Fibonacci extension, 23.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 70.92 (horizontal overlap resistance, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching support and seeing a bullish divergence where we might see a corresponding bounce in price.

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