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CFDs on WTI Crude Oil
Long

USOIL medium term long

By BigCharts
Updated
USOIL

should retrace to mid 40's as it is currently overbought but later on in the month move and break $50 wwith ease as it regains momentum. If you already hold at a good entry (mid 40's) I suggest you do not panic as the divergence of the MACD has not narrowed thus signaling further room for upside movement.
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The retracement was not as rapid as I expected, but it is coming. My sentiment is still bullish on oil.

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