USOIL

9 thg 9, 2016

From the weekly chart, MACD is about to make a gold cross above zero very soon. A proper cross on weekly chart should yield at least $20 (from recent low of ~40 we should see ~60). I expect it to hit RSI70, consolidate (sideways: market will not let you buy cheap again) before heading to RSI80 level. This should bring us to the $70-80 region; which is another $20 from $60.

THIS IS A PROPER WEEKLY TREND HENCE RETRACE SHOULD BE LIMITED TO DAILY SCALE WHICH IS ~$10-12