still waiting...was hoping for some stabilization at 2.50..but it's never good to hope as the price went right through it...USO is again making new lows..gotta be cautious
what do i mean by stabilization? well at least the ma's (5, 10, 20, 50) on 20min or 30min timeframe is not falling...with 5,10,20 curling around each other and at least 50ma is close by and flattening out..then i'd look for price patterns to confirm a possible breakout...that is the price structure is in accumulation mode.
otherwise, any price surges need to be viewed with suspicion..as the stage is still in distribution mode.
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