FX:USOIL   Crude Oil (WTI)
242 1 4
We have just crossed a major support line on the 40 USD level that defined the end of the 2008 crisis and the beginning of a new bull market period. This could be well the beginning of a new era where oil             will have the 40 USD line as major resistance and we'll be back to a pre-2004 situation.
Another possibility is that we are actually re testing that support again, so it is an amazing time to long. I wouldn't bet on that until we cross above the 40 line and/or MACD crosses back the signal.

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purpurato59 PRO
10 months ago
I believe that 40 line became the new resistance, we will see it soon
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