This weeks technical and fundamental analysis for USOIL.
Currently awaiting confirmation of the full rotation reversal, that appears to be forming. I am under great suspicion that this bull rally has ended. And has claimed new Year Highs of $52.80
Fundamental Quote: It was said to be known that, Baker Hughes Friday showing operating 6 additional oil rigs operating in the United States. Totaling 756. This change in operation, will lift supply, inadvertently drive price down.
My analysis shows a potential Short opportunity. After the break in bullish structure has been confirmed.
Happy trading.
50.20 S P 48.50TP SL 50.70
Trade active
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Wild F**** ride it was this morning. But were on track.