Up or down? I don't know. But it's key here. Wait and watch this level's price action.
Dont' forget the FOMC this week. Some push the price up to leave. Take care. Short at 55$.
A possible corrective structure may show up soon. Catch the retrace bus, add some longs then.
A close below 49$ will open ther door to 47$... A hammer up or MACD down?
The low level is 13.6 in 2015-12-11 The high level is 21.1 in 2016-07-04 Now, we bound from half between them. What should we do ?
We saw a Two Lines Break yesterday and that was bearish. If today close below 50.32, that's a bearish signal confirmed.
Someone thought yesterdays' break-down proved a false break, while I think it's more like a retest, just an opinion.
This is a hard time for USOIL because it's related to the yearly trend now !
2016-9-19, why the close position moved below 9-16 suddenly ?
1. EMA10 cross up EMA20, that's a signal for those who trade based on EMA. 2. Two Lines Break reversal yesterday, someone start to enter long now ! 3. Higher Low with lower/higher/flat low still unknown, 48.31 will be critical. 4. Think about the DXY, USOIL and OPEC. 5. Short after a shorting signal appears at least. No sign yet.
As we can count from Feb this year, in the macro way, all the last two waves can be seen as an AB = CD, which is a very large scale. And as to the fifth rise, we can guess 55.37 is its end at least. So you can place a Fib test from there, and get an interesting entry level at 45.36. This is just a hypothesis, post it here coz it's very interesting. We can see the...
Very interesting level... TBL Daily : Down in the last few days... Weekly : Up Again recently ...
Just a remider, this market is crazy sometimes...