USOIL is presently in a bear market. It is trading under the kumo cloud on a 4h and daily time frame. Oil had a good rally upwards after the news on the crude inventories. There is a weaker demand in oil right now as the report estimated -1740k and the result was 1413k wish is much higher then expected. We should see bears take control. Oscilators are over bought and there is a good confluence area around 41.15 with a resistance point at 41.80 and the kumo cloud. Fresh lows are expected
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