Junwei_Sun
Long

Where will USOIL stop drop?

TVC:USOIL   WTI CRUDE OIL
20 0 1
SPX             gave us a surprise Friday and USOIL             also drop with SPX             .

But I believe SPX's pull back won't last very long time because DXY             implies that there is no rate raise soon.

Back to USOIL             , up-trend support is very close, this area is 0. 5-0 .618 area, the same place we begin to fly this Wednesday ,Thursday with a nice api and eia             data.

If USOIL             cannot stop drop, I still don't think that's the end of the world.

Take care of 43.99/43.52, a potential bullish cypher type is waiting there.

Saudi will bankrupt around 2020 with a oil             price 50 USD. Obviously, Saudi won't allow this thing happen. So I will long USOIL             at any pull back. Indeed, I cannot love today's drop any more and even wish a more deep pull back.
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