It's still very early on the in the 4H Candle, but a break here can expose lows at 37.73 and potentially trigger further selling pressure to even take out that support. A close of the 4H can provide a clear signal for Oil here.
When market wants to take uj and ucad.. i see same consolidation.. and these both pairs are doing this from last 2 years.. and especially months of nov. dec. and jan. are extremely bullish months for both these pairs.. even though charts of ucad seems strange.. but i am bullish..
well now you can see reversals or change in trend in currencies.. euro back below 1.08.. and today gu also dumped down... uj already in bullish territory and ucad too... so soon aud and nu to join.. downside..
So my point is if ucad holds that 20 ema on weekly... then i see ucad towards massive rise.. as you can see last time it fall below weekly ema was below 1.22 and then you can see rise of 1.34... and now ucad is in bullish months... i see ucad only buy on dips..