has reached a major resistance at $52 and given that all indicators show that USOIL
is currently overbought, I expect some downward movement to previous local
maximum $50-49. The 200ema MACD
though shows further possibility for upward movement, that's why I set my stance to neutral for the time being and stand by my previous analysis suggesting that oil
will go higher in the first 2 quarters of 2017.