On January 17 I just called for cheaper oil price.
It still doesn't happen yet, but potentially lower price continues as more signal for lower price.
We see a bearish divergence (daily chart and 5,3,3 stochastic) between Jan 9 2019 until Feb 1 2019
There are some resistance and support level:
53.50, 58.00, and 63.00 are resistance level (USOIL still can't break 58.00 price levels)
45.20, 42.30, 38.75 and 36.00 are support level.
If we look at past time, oil can go lower as low as $26 per barrel which happened on Feb 2016
It still doesn't happen yet, but potentially lower price continues as more signal for lower price.
We see a bearish divergence (daily chart and 5,3,3 stochastic) between Jan 9 2019 until Feb 1 2019
There are some resistance and support level:
53.50, 58.00, and 63.00 are resistance level (USOIL still can't break 58.00 price levels)
45.20, 42.30, 38.75 and 36.00 are support level.
If we look at past time, oil can go lower as low as $26 per barrel which happened on Feb 2016
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