USOIL analysis for today 8/30/2019

On the daily chart, I see USOIL is right in the middle of the light blue channel and has never really broken out of it and stayed out. This was my original channel I created to see if my theory of oil staying in a consolidation mode for most of the rest of this year and it is holding true. The Stochs and money flow point to a rounding over so I expect this to happen soon. Since today is the last trading day of August, anything goes, but the 4 hours, 1 hour, and 15 minute charts support a sell condition today. I expect it will eventually drop to the $53.30 area before going up again, and if it breaks that, could tumble to 2018's low in the $49 range. I just don't see demand picking up significantly anytime soon. I hope this helps. Trade smart and always use SL. Have a great weekend!