USOIL UKOIL LBLS AnalysisLBLS clearly shows the price must be following this channel and for sometime the price will continue within this channel only for both USOIL and UKOIL.
There is not much to explain why this is will move in this direction.It is very evident that this will follow the parallel price channel .
If the price closes below or above then that will be the trend reversal for both UK and US Oil.
I used LBLS for analysis ,Here is the details of the LBLS more...
with the help of LBLS indicator , i check three basic yet effective rules for Entry.
Long:
Make sure the candle color transitioned from Black to Blue / Red to Green .
The Strength-meters Here is the example of Strengthmeters with Open Pine code ,it is nothing but group of top performing indicators,Used 7 indicators to predict this.Minimum 4 or above showing in charts in the current candle or within two candles in Green Color (Red for Short).
Background Color changing from Red to Green is the added advantage.
Short:
Opposite of the Long Logic's.
