4xForecaster
Short

Update: Arctic Cold Favoring Bears? | #USOil #WTIC #Brent #Oil

AMEX:USO   UNITED STATES OIL FUND
123 0 2
Friends,

A quick "Tech-Note" on #USOil to indicate that the recent rally illustrated in this chart may have had the stomping sounds of bulls, but our system indicates quite the contrary.

In fact, ever since our "Dead-On Hit", a bearish reversal confirmation signal was produced, and we remain quite skeptic as to the ability for price to change that bearish qualifier for the time being. A push above 36.00 is always possible, but the resistance is quite solid at that level.

Instead, we keep our eyes on the bearish levels down below. In fact, we just produced a "Target-Low", TG-Low = 29.90, which marks a potential reversal level. In its path, the secondary target produced last October 28th might require some refinement, but we will keep it as is until price breaks the recent structure low.

Cheers,


David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado USA


---------------------------------
Want more forecasts and cool charts. Join us on TradingView.com: 4xForecaster
Want signals? Follow us on Twitter: @4xForecaster
Our Dead-On Hits Archive: http://bit.ly/16JMnH8
Like Us! on Facebook: www.4xQuad.com

See our recent successful forecasts:
1 - #USDollar: http://on.fb.me/19Pf77y
2 - #AUDUSD: http://on.fb.me/1kDHbdB
3 - #NGAS: http://on.fb.me/1aSMYHV

---------------------------------
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: admin@KADAInstitute.com
All updates on https://twitter.com/4xForecaster
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out