USOIL Update 🛎️

The reversal structure looks credible and sufficiently pronounced (meaning that there is not much room left for upside). I reckon the market is in topping process. Shrugging off bad news so long is likely to result in the build up of negative energy. When released it will take the market to much lower lows as the latter starts overreacting to not-so-bad news.

Comment:

4H chart shows that the price is being contained by strong level and moving averages. Yet there is no confrimation of the reversal and the market continiously shrugs off bad news.