Taking a look at USOIL on the monthly shows a key level of a support resistance where price is ,moving towards. Price is in an important zone of support and I am now expecting price to retest the long term support trend line before a bullish rally. Or a rally upwards immediately.
There's been a nice rejection of the lows on the support zone after a reversal hammer candle formed indicating bullish momentum.
There's been a nice rejection of the lows on the support zone after a reversal hammer candle formed indicating bullish momentum.