The weekly chart is in a congestion area. Chances are high for a bounce
The daily chart shows multiple bullish signals. We have a very strong support area at 91-92$, and we had two false breakouts below it. Then, we have a bullish divergence on the MACD lines and histogram. The candles at this level are extreme bullish. I have a long position on the OIH, and I would get long Oil, but the contract is too big for my account.
The daily chart shows multiple bullish signals. We have a very strong support area at 91-92$, and we had two false breakouts below it. Then, we have a bullish divergence on the MACD lines and histogram. The candles at this level are extreme bullish. I have a long position on the OIH, and I would get long Oil, but the contract is too big for my account.
