2911 Monthly chart 2/8 USOIL up to approach 72
Well, on the last trading day of Nov, lets check pairs on monthly chart to find out more clues.
On higher timeframe chart of oil, we keep the idea that USOIL will rise up to the highest red resistance zone for a long time. But it seems really hard to make it happen in 2019.
Now this triangle is showing a possiblity of breakthrough for higher high in Dec. This blue arrow is a weaker one to go.
In December, we would love to see a uptrend trend for oil to go, considering seasonable reasons and the coming OPEC meeting.
Good luck!!!
On higher timeframe chart of oil, we keep the idea that USOIL will rise up to the highest red resistance zone for a long time. But it seems really hard to make it happen in 2019.
Now this triangle is showing a possiblity of breakthrough for higher high in Dec. This blue arrow is a weaker one to go.
In December, we would love to see a uptrend trend for oil to go, considering seasonable reasons and the coming OPEC meeting.
Good luck!!!
Comment:
USOIL is still bullish on monthly chart.