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solitude79

WTI-USOIL is near a key support...but we need one more leg down

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
solitude79 Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Technical Indicators WTI wticrude wticrudeoil Crude Oil WTI
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trendanalysis indicator wti wticrude wticrudeoil usoil
These is the long-term weekly chart of WTI. We can see price is holding near a very strong support level but has not quite touched it. RSI analysis tells us we can have one more leg down, but if not and the price holds we can say we have hit the bottom and price will rise gradually.
Comment:
As predicted this was the time for bottom and we have had 20% increase in price, which is very significant for Oil.
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