This analysis is based on Open interest, Commitment of Traders, and the price swing.
As you can see on the link above, the commercials have been adding short positions since October 24, 2016 (since the price spike). If you look closely to the OI, there was a recent drop meaning that they are...
There was a retest on February 12th, since previous price movements respected the channel, price is going up to the 12326 level.
If you look at the XAU charts, you can see that Gold will be heading down soon aswell.
Many confluences involved, just needs patience
Since Oil is down, Canada should be expecting some gains in unemployment since the country is basically operating mostly on its oil! low oil prices = more people lose their jobs. Unemployment level will be higher
USD PMI was the lowest in 36 month (always above 50), It reached its support, good time to buy, the resistance should be the new support in early 2016 unless interest rates in the US go up before that.
I'm a newbie, if I sound stupid, forgive me .. lol