USOIL - Start of a corrective rally??
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USOIL looks to have created a short term low just below 7300. Im now looking at a rally so watching this PB going into Monday for a potential move back up towards 78-80.
Watching for 7400-7480 on Monday to hold for the next move higher.
Enjoy the week. More updates coming.
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It didn't quite make the PB I was looking for yesterday and has now rallied up to the 382. Same scenario now, watching for an ABCD PB to get the next move higher into the 80+ area.
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The higher this first move goes the deeper the PB and the bigger the next move which could be bullish.. Waiting for a top.
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Possible top in place. Now watching for the next move.
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After a 900+ point run with minimal retracements we have hit the 61.8% level and started to reverse. We should see more downside this week before rallying again. Watching a PB to short.
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