The bulls are still here! The price per barrel has been held steady on the rise back to the previous demand zone , around $50. Before the massive fall putting oil in a temporary deficit. While not many are acknowledging USOIL at this current moment, we still have our eyes on it diligently. In this technical analysis , I will show you some tips on how I suggest analyzing price at its current point now, and what to look forward to as price continues north.
Oil has had the tendency to make miraculous moves in a very short amount of time from this 1 month supply region, and I feel a rejection of this recent $52 region could again be such moment. Maybe not as strong as our last impulse to the downside, but hopefully we can see larger volume start to pickup on the daily and hourly timeframes. However, we're all here to learn, let's see what she's got in store for us.
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Disclaimer!
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Oil has had the tendency to make miraculous moves in a very short amount of time from this 1 month supply region, and I feel a rejection of this recent $52 region could again be such moment. Maybe not as strong as our last impulse to the downside, but hopefully we can see larger volume start to pickup on the daily and hourly timeframes. However, we're all here to learn, let's see what she's got in store for us.
Follow me for free, consistent, expert updates, with clear explanations and charts.
Please like if you support this post!
- Sharing Profit
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
