The Current Oil Square

26 thg 12, 2018

USOIL working the 1/3-1/2 square both price and time wise from the recent high. You can see the dashed horizontal support and resistance lines based on the aforementioned square range of 1/3 to 1/2. If bulls manage to turn this around, the first thing they will have to do is break beyond the descending 45 degree line of that highlighted 1/3-1/2 square.

26 thg 12, 2018

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Potential supply zone and short term 45 degree rotation from the current high of 4452

26 thg 12, 2018

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27 thg 12, 2018

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Updated chart with the 45 & 15 degrees lines coming up from the recent low. A probable triangle play here highlighted

31 thg 12, 2018

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USOIL approached the 45 angle of the square, if bears fail here, should see a decent upside onwards