Usoil soon to fall off a cliff
Rsi divergence+fib and trendline resistance on the monthly timeframe is unlikely to let oil go much further. Never in it's history has usoil been able to break above this orange trendline. Once the decline begins oil is unlikely to stop at the first fib support which is at about $37. Rather it is more likely to continue falling to the second fib support (3.618 fib) which is at about $18.5. All the greedy people, gamblers, and unwise retail traders will get rekt which is pretty much always the case after a big bull run.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.