We believe that USOIL will be moving bearish for the following reasons:
We note the amazing bullish channel the market has been making respecting the resisting trendline and therefore we believe a repeat of previous actions will happen again.
There is also the RSI telling us that market is way over bought signalling bearish movement.
The fib extension of 1.128% has been hit perfectly as market came to a close on Monday.
FUNDAMENTALS
N/A
We note the amazing bullish channel the market has been making respecting the resisting trendline and therefore we believe a repeat of previous actions will happen again.
There is also the RSI telling us that market is way over bought signalling bearish movement.
The fib extension of 1.128% has been hit perfectly as market came to a close on Monday.
FUNDAMENTALS
N/A
