Crude Oil on a nice downtrend

FX:USOIL   CFDs on Crude Oil (WTI)
I've been chasing this bearish move on Crude Oil (WTI) since 76's Political turmoil has sent it quite deep but it looks it has achieved a oversold state which means it can see a bullish trend in the short term. I want to see how deep this move goes, ideally generating a divergence to set a rally. Remember that Sep-Jan is the bearish period for oil according to historic price averages.

I marked next resistances in my chart, I expect that to be the bottom of the channel but let's wait for confirmation. :)


Do you know what youre talking about, or do you just come on here posting random theories that you haven't backtested and know to actually work over time?
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