USOIL is Still in Crashing Pattern Since 2008
Chart is self-explanatory.
We have been crashing since 2008 and doing 70% retraces of each fall. Once a retrace is completed at $81-83 from our second fall in 2014, the crash will resume taking us back to $43 per barrel. At that point, we can determine if we are going to find support, then resume higher, or continue crashing lower.
We have been crashing since 2008 and doing 70% retraces of each fall. Once a retrace is completed at $81-83 from our second fall in 2014, the crash will resume taking us back to $43 per barrel. At that point, we can determine if we are going to find support, then resume higher, or continue crashing lower.
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Well... that happened a lot faster than I expected, lol.
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Target was hit, significantly faster than I expected. Now time to let it play out for a little while and see if we are setting up for a crash down to $15 or if we are going to move up higher.
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