In my previous post on usoil, we had a bearish gartley pattern, which didn't work well (see link below). I was still waiting for oil to retrace, and we now have a much better setup to get involved with. Price broke below a rising wedge pattern after being rejected from a key zone formed at the upper bond of the pattern with MACD divergence showing that this uptrend has no more power to continue it climb.
We should now wait for a small retrace (correction), watch for a sell setup to complete and sell crude oil.
We should now wait for a small retrace (correction), watch for a sell setup to complete and sell crude oil.
