USOIL BACK TO $50.00...OVEREXTENDED?
USOIL has no tested $50.00 a barrel and could find some support here. The Oil market has been significantly bearish and we have managed to catch the majority of the move down.
However, the price has now come to a critical level and looks to be seriously overextended. If you move up the weekly chart you will see how far price has moved from the Moving Averages and we could see
prices push to test these over the coming weeks.
However, the price has now come to a critical level and looks to be seriously overextended. If you move up the weekly chart you will see how far price has moved from the Moving Averages and we could see
prices push to test these over the coming weeks.
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