USOIL | Correction or Reversal?
USOIL (Crudeoil) has been trading in good momentum, price action has printed good higher highs and higher lows. But recently the indicator is showing bearish divergence, meaning bear might be coming to the party.
Two possible senarios can happen here;
a) The bearish divergence can result in just correction and it is limited to rising trendline which is around 90. If bulls show some sign here then buy risk can be taken.
b) The bears are here to ruin the show and if manages to break rising trendline then we can witness 84 again which will be good support.
Trade your levels accordingly.
Two possible senarios can happen here;
a) The bearish divergence can result in just correction and it is limited to rising trendline which is around 90. If bulls show some sign here then buy risk can be taken.
b) The bears are here to ruin the show and if manages to break rising trendline then we can witness 84 again which will be good support.
Trade your levels accordingly.
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