Coil not broken yet, but we might get one more chance to buy on it hitting the Resistance and going down with the disbelief of many, and the fact that USD is going to get stronger with the Yellen increase in rates.
Spring coil to be released either way with Mr OPEC saying a few 'wise words'. US weather is getting colder, oil demand will increase. More rigs coming on-line. Oil Inventories volatile. Demand cycle really up and down also from week to week. So, the ONLY two factors that really have been pushing oil around is USD and OPEC. The coil above is proof of it, and it has been doing this since March! I am long oil, oil stocks and considering adding USO which brought me to your page. Just my 2 cents.