USOIL
has established a Bearish Gartley further proving that a short-term correction will need to take place in order for the security to continue its rally or pivot to new lows. Now, with the fibonacci retracement system the most notable levels include both 38.2 and 61.8. Also, momentum and selling pressure seems to be increasing as indicated by the doji. Based on that information, we can conclude that the price will most likely react at either 43.56 or 41.89; I will be shorting to both these levels. Feel free to adjust your selling/buying point accordingly. Furthermore, I advise keeping an eye on your momentum indicators and watching the price action carefully to look for a bullish pivot. Thanks so much for the support guys! You interacting with my charts by either liking or commenting inspires me to continue providing you all with my ideas. Again, it's greatly appreciated!
Comment:
Clean hit off the major resistance line.
Trade closed: stop reached
