US OIL approaching resistance, potential drop!
USOIL is approaching our first resistancce at 59.96 (61.8% fiboancci extension, 50% fibonacci retracement , horizontal pullback resistance) where a strong drop might occur below this level pushing price down to our major support at 51.08 (horizontal swing low support, 50% fibonacci retracement ).
Stochastic (89,5,3,) is also approaching resistance where we are expecting a drop below this level.
Stochastic (89,5,3,) is also approaching resistance where we are expecting a drop below this level.
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