USOIL Bearish Cypher +Divergence +Fib resistance +Stochastics
USOIL Bearish Cypher +Divergence +Fib resistance +Stochastic
USOIL crude has a confluence of quite a few bearish indicators.
In the H4 and daily we see the near completion bearish cypher, along with
bearish divergence to the RSI in the H4, stochastics looking tired in overbought territory and
Fib resistance 0.5 of the decline from october 2015 high and 0.38 of the decline from june 2015 high.
I expect only a short firework in the markets from recent ECB and upcoming FED decisions,
which might lead the price for USOIL crude back below 30 US$ per barrel, unless rising
geopolitical tension in the middle east might in some way affect the oil supply from the peninsula.
I hope you find this analysis useful and see it as an extension to your own studies.
Please leave a FOLLOW or LIKE.
twitter.com/Sinatra_FX
USOIL crude has a confluence of quite a few bearish indicators.
In the H4 and daily we see the near completion bearish cypher, along with
bearish divergence to the RSI in the H4, stochastics looking tired in overbought territory and
Fib resistance 0.5 of the decline from october 2015 high and 0.38 of the decline from june 2015 high.
I expect only a short firework in the markets from recent ECB and upcoming FED decisions,
which might lead the price for USOIL crude back below 30 US$ per barrel, unless rising
geopolitical tension in the middle east might in some way affect the oil supply from the peninsula.
I hope you find this analysis useful and see it as an extension to your own studies.
Please leave a FOLLOW or LIKE.
twitter.com/Sinatra_FX
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