USOIL Approaching Support, Potential Bounce!
USDOIL is approaching our first support at 39.86 (horizontal swing low support, 100% fibonacci extension, 76.4% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 49.62 (horizontal pullback resistance, 23.6% fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
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