2609 WKP2 USOIL is making a new leg down to 34.25
Hello traders,
We should preparing a new low for USOIL in OTC, considering the globe economic situation.
The monthly chart would support our view on that. USOIL is now being rejected from middle average band of BB on monthly chart which is considered as resistance zone too. Those two support zones are ready for it to test in case any strong mementum pull it down.
On weekly chart, it is making a new bearish siganl last week beneath the middle band. We expect a new impulse leg for the weekly ABC wave. C position is expected at 34.25. Lower one would be 28.70.
Good luck!!!
LESS IS MORE!
We should preparing a new low for USOIL in OTC, considering the globe economic situation.
The monthly chart would support our view on that. USOIL is now being rejected from middle average band of BB on monthly chart which is considered as resistance zone too. Those two support zones are ready for it to test in case any strong mementum pull it down.
On weekly chart, it is making a new bearish siganl last week beneath the middle band. We expect a new impulse leg for the weekly ABC wave. C position is expected at 34.25. Lower one would be 28.70.
Good luck!!!
LESS IS MORE!