As you can see on a smaller time frame, USOIL pumped to this exact spot for one, because this major gap needed to be filled and two, because it wanted to test out this resistance.
USOIL doesnt seem to have the strength to push through.
With this pattern, you can also see that USOIL is close to topping out. This curve is at its top and will need to make a move downward very soon.
We can also see our loss of strength with this massive bearish divergence on a 4 hour.
USOIL doesnt seem to have the strength to push through.
With this pattern, you can also see that USOIL is close to topping out. This curve is at its top and will need to make a move downward very soon.
We can also see our loss of strength with this massive bearish divergence on a 4 hour.