USOil approaching support, potential bounce!
USOIL is approaching our first s support at 60.65 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our first resistance at 67.62 (horizontal overlap resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
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