USOIL monthly supply just formed
A monthly supply has seen earlier after another rally to the downside occurs during the NY session. This monthly supply is the first of its kind formed since the beginning of the downtrend from the mid of last year. We will be expecting an another retest of the former monthly demand that is coming from early of 2004. Short term will be bearish for USOIL, then probably a range bound if that upcoming monthly support holds.
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.