If USOIL returns and gains momentum after 45.77 price could drop back down to the 141.4 and possibly 127.2.
Would love to hear your thoughts. Thanks in advance for your feedback!
- Also, check that consolidation in the DMI. Means a big move is going to happen soon.
- ADX is moving into a 40 range indicating a trendreversal is likely to happen.
- And lastly, currently +DMI (BLUE) is dominating the -DMI (ORANGE).
These three indicators give off SHORT signals. If this pushes through Oil will most likely reach 44.40 in 3 to 4 candles.