We have a Bullish 3 Line Strike at the PCZ of a Bearish Alt-Bat on this Bullish ETF for US Crude Oil and are showing Bearish Divergence after taking out the Price-Action of more than 3 of the previous Bullish Days with one Bearish Day this signals to me that the major Bearish reversal is about to begin.
On a side note the MACD has crossed Bearishly.
After a big fall, the OIL ETF presents an excellent BUY opportunity. Yesterday, the DBO close's created a bullish hammer pattern.
The target is the close the GAP. The stop loss is right bellow the hammer's minimum.
Depois de uma grande queda, o OIL ETF apresenta...
Some will argue that Oil bottomed in 2016 and the C wave was completed there and then and we have now embarked another bull run. This count however suggests that there is in fact another leg down to be completed. As ever, time will tell.