I am not a fan of this pair as much as I am not a fan of USOIL, but I am thinking oil is overdone and as it happens CMF(26) is bearish here along with WPR(9) sniffing around the oversold zone. Not a perfect setup, but if the Tenkan turns south for the border, I may ride that train too. Gonna think about testing the Kijun-sen as a pullback seems to be coming. Stay tuned amigos.
Order cancelled:
This idea is null and void. CMF(26) has turned positive and there seems to be no sign of a bearish turn. Instead we are now looking at a normal corrective pullback at this time.