Multiple confluences across USOIL Chart Indicate a potential short.
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Analysis on USDCAD -
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Reasons for Shorting are the following:
Moving average cross over indicates further downside
movement - across 1d, 4hr, 1hr timeframes
Confluence between Fib and Monthly Support BUY/SELL ZONE
Price below BUY/SELL Zone indicates further downside.
Third tap of trendline then break?
Potential confluence between 200MA and Monthly Support Region.
Very similar movement from USDCAD.
Moving average cross over indicates further downside
movement - across 1d, 4hr, 1hr timeframes
Confluence between Fib and Monthly Support BUY/SELL ZONE
Price below BUY/SELL Zone indicates further downside.
Third tap of trendline then break?
Potential confluence between 200MA and Monthly Support Region.
Very similar movement from USDCAD.