USOIL, looks to be starting final leg down. I can see a three drive to a bottom trade, with a low near $42. Enter short with DWT, DRIP or similar.
Comment:
USOIL still on track for lower prices. On day 19 there is still plenty of cycle time to go lower to target. %R is getting into oversold, BUT it can remain there for some time.
Comment:
Moving as planned.
Trade closed: stop reached:
I closed my position in DRIP Yesterday manually as things started moving against me.
Comment:
With support broken, this could fall all the way to the $43 area.
Comment:
Support has become resistance. Bear flag forming final push down to $43 soon.
Comment:
Flipped long at $43, now trending higher. Expecting to reach $49. 3 drive pattern.
