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Oil analysis update on daily chart (2016-03-12)

Light Crude Oil Futures (NYMEX:CL1!)  
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NYMEX:CL1!   Light Crude Oil Futures
Crude Oil Futures WTI (CL1!) timecycle divergences Trend Lines
7
10
cl1! timecycle divergences trendline
Oil will meet a huge resistance at around 39.8. The daily RSI also shows a divergence. These will result the pull back soon.

But from time cycle analysis, the correction wave does not finish yet. After the pull back, oil might go up again to 43.5.

Good luck for everyone!

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