USOIL has been in consolidation over recent months , with price cycling around the shorter MAV's.
The bias is neutral as price centers at horizontal support and resistance.
Price needs to show its hand with
1. Clear break of 50 to target 44
or
2. Clear break of 60 to target 74.
This will likely occur in this month as price approaches the consolidation apex.
The bias is neutral as price centers at horizontal support and resistance.
Price needs to show its hand with
1. Clear break of 50 to target 44
or
2. Clear break of 60 to target 74.
This will likely occur in this month as price approaches the consolidation apex.