USO paused inside resistance yesterday (white box), but has gapped down this morning. Micro Resistance moved down to 10.14/.26. Larger degree support still in place as noted by the "Support" box down to ~9.71. This, like all markets, is not linear. Wouldn't be surprised by a few bounces along the way. As long as resistance hold above - which I'll keep moving down - then I'm expecting new lows. Note also signature embedded stochastic RSI.
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nick.holland78
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USO bounced right to the .382 retrace of wave 3 today, and is still below micro resistance. Stoch RSI has a signature embedded move on the 3rd down, and has how reset on lower price for a drop in wave 5 of i of (v). Nothing bullish to see here imo.