USOIL: Was This The Top Of The Movement For USOIL?
During the last couple of days and weeks, I have been calling the top of USOIL.
If you check out the previous analysis you will see that the price was expected to reach the top of the structure close to 90.6 - 91.8
After that, we increased the price reversal area 92 and 94 due to Ukraine and Russia border problems.
Actually, the price keeps confirming the reversal area and we can see a decent bearish movement in the coming week.
What it is really holding the price at the top of the pattern is the problem between these two countries.
But let's keep it simple. Is the situation between Ukraine and Russia so problematic?
If you speak to the people that actually live in Ukraine they say completely the opposite.
That all of this big mess and noise on the media is done by East and West and the situation is the same as it has been during the previous year.
So let's suppose if all of this is true we can see the price moving down really soon and it will be really beneficial for the long term sell positions.
Anyway be careful as the politics will not the the price to move down so fast.
PS: This is only my personal opinion. Do your own researches before investing in financial instruments.