BLUE43

USOIL GOING TO 0.382 ?

FX:USOIL   Crude Oil (WTI)
216 2 31
...
Blue. You may well be correct. I do think there are highter highs ahead but I think there may one more leg down of correction before a BIG move up again. What makes think this is that the shorter term uptrend since February has been broken and time wise after a 6 month rise I would expect a longer term correction. Also it is not unusual for the price to come back and approach the longer term downtrend line that has been broken. But there is a great positive reversal in the RSI which ususally leads to a highter high ahead. But often (but not always) it is followed by a bullish divergence before the next major move. Also want to mention I appreciate that you look at my charts. Take care.
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