It appears as tho we're about to retest the bearish wedge we broke out of during the first part of August. We have a shit ton of resistance in this area and appear to be forming a H&S formation as well.
Look for deceleration and a rejection of this resistance on the daily and intra-day for confirmation to get short. Ideally this pair tops out at resistance the same time USOIL bottoms at support.
I plan on holding this short for quite awhile and will gladly add to the position with pullbacks during the run down.
Look for deceleration and a rejection of this resistance on the daily and intra-day for confirmation to get short. Ideally this pair tops out at resistance the same time USOIL bottoms at support.
I plan on holding this short for quite awhile and will gladly add to the position with pullbacks during the run down.
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Oil Buy Signal
patrick186
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