USOIL POSSIBLE HEAD AND SHOULDER FORMATION

Considering the price action on USOIL where as at last month it formed a Low,Lower high and a lower low but on the cause of pullback which shouldn’t have exceeded 100% fib level, it was seen breaking the LH also with the MONTHLY MID LINE, giving rise to a left shoulder and head formation , this month is currently forming the right shoulder which signifies a bullish move, but at present. A neural daily candle is formed close to PMH, which if broken , the trend to the upside activates. But if it’s resisted then we may still experience a bearish continuation,


Watch closely at the PMH for price reaction


GOODLUCK

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