Still I'm not agree to go long with crude oil so any reasons outside the OPEC!!
USOIL still in correction wave but the price can back again for testing the broken support... the most important thing is not closing down the daily trend line to complete this pattern.
I think we are in down wave or price correction for crude oil extending to the next 8 months..
Bat pattern in progress
USOIL good for short next few days..take care
May be come back to 53$ soon.
SPX can be on ABCD pattern, when hit the D point on daily chart watch the price action & the negative divergence on daily chart
Anti shark is not famous pattern but its mostly good & working with hit & run base!!
For low risk entry after closing down the up trend.
SPX Negative divergence in daily chart & the index still in horizontal move.
SVXY trading in top with negative volume divergence also the wave has been completed.
XIV trading in top that lead to SPX index also in the top watch the free fall down soon...
In SPX chart there is a resistance on C point 1.13 Fibo. it can lead index to go down to one of the two D points.
C point between Fibo. 61.8 & 78.6 watch price action
SPX500 could be at C point, if the pattern is actual we can shorted temporary till D point.
Pattern still in progress we can see the lower & higher target expected otherwise target can be between D points.
SPX500 may moving down to the bottom of the rising channel
As indicators shown negative (bearish) divergences except MACD its slowly moving to cross the red line..