USOIL | Death Cross on Weekly ChartPlease support this idea with LIKE if you find it useful.
50 and 200 Weekly MAs are close to produce the death crossover. It's a bearish sign and usually a strong confirmation the decline will continue. However on the chart we see the situation where the Death Cross was ignored and price stopped the declining and later started to grow (it happens because losses are already booked and the confirmation comes too late). We might have the same situation now if price will hold the horizontal support zone, otherwise we have a high chance the decline will continue.
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Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
