In my previous post on usoil
, we had a bearish gartley
pattern, which didn't work well (see link below). I was still waiting for oil
to retrace, and we now have a much better setup to get involved with. Price broke below a rising wedge
pattern after being rejected from a key zone formed at the upper bond of the pattern with MACD
divergence showing that this uptrend has no more power to continue it climb.
We should now wait for a small retrace (correction), watch for a sell setup to complete and sell crude oil