The price of the USOIL
is in a uptrend channel
, however, it has touch a significant resistance area
, losing it strenght. So it is going to break the channel in a downside direction, and will rebound in the 30usd price area, area created because the coalition created in the middle east with Rusia, if Iran participate in the aggrement, it will break the 35USD area. If the Fed decide to rise, or give sign of a possible interest rate
rise, it will go with strong movement to 25USD.