USOIL technical analysis on 15 MIN timeframe
WTI has shown some healthy recent bullish strength from bouncing off the recent low of $39.00. However, I do see a couple bearish warnings up ahead on the 15 Min. timeframe.
Bearish:
1. Large recent selling volume
2. Resistance level created yesterday afternoon at around $43.30 that price will need to break through
3. A negative divergence in both the MACD and the MoneyFlow
4. MACD near a crossover on 15 MIN
Bullish:
1. Large buying volume last week
2.Healthy upwards price action last week & yesterday
3. A golden cross following a bullish hammer and large volume last week
4. Higher lows have definitely been added recently
The short term trend looks healthy (to me) for USOIL, however, there are definitely a few roadblocks up ahead for price to conquer.
Bearish:
1. Large recent selling volume
2. Resistance level created yesterday afternoon at around $43.30 that price will need to break through
3. A negative divergence in both the MACD and the MoneyFlow
4. MACD near a crossover on 15 MIN
Bullish:
1. Large buying volume last week
2.Healthy upwards price action last week & yesterday
3. A golden cross following a bullish hammer and large volume last week
4. Higher lows have definitely been added recently
The short term trend looks healthy (to me) for USOIL, however, there are definitely a few roadblocks up ahead for price to conquer.
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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.