USOIL failed to break 61.8% fibonacci for the second time at level 59.18
Negative divergence appeared on MACD (H1 frame)
Weakness appeared on USOIL, price is making higher highs while RSI is making Lower highs
Price already broke uptrendline
Strong Bearish wave is confirmed after breaking the bottom at 58.20 and Moving Average 100
It's expected to retest again the major uptrendline on H4 frame around level 55.50
Negative divergence appeared on MACD (H1 frame)
Weakness appeared on USOIL, price is making higher highs while RSI is making Lower highs
Price already broke uptrendline
Strong Bearish wave is confirmed after breaking the bottom at 58.20 and Moving Average 100
It's expected to retest again the major uptrendline on H4 frame around level 55.50
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.