Oil Monthly. At pivot, btwn 100MA res 200 MA sup. Notes.

Oil Monthly. Right at pivot, between 100 MA Resistance 200 MA Support. MACD SQZMOM trending up Stoch high. $USOIL $WTI $USO #OIL

Watch the indicators close for a turn if trade nears that 100 MA (Stochastic RSI, MACD and SQMOM).

I would expect oil to coil that pivot (yellow line) and bounce between 100 MA and 200 MA range on monthly for some time. Yet to be seen... but it's highly probable imo.

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200 MA was in fact used as resistance per this previous charting alert. #OIL $USOIL $WTI $CL_F $USO - new chart link