- USOil bottom could be in place
- In recent months, consolidationshave given traders excellent short opportunities…until now
- Daily double bottom formation with a higher high has eyes on price forming a higher low
On January 22nd, I posted a piece suggesting the bulls were premature due to a repeating theme which consisted of heavy selling followed by periods of consolidation followed by more heavy selling. In recent days, for the first time in months, this theme has failed the bears. We have a double bottom with a higher high in place. Will the pullback this week hold as the first higher low? At this juncture, this camp believes it will. USDhas begun rolling over a bit as of late. If downward momentum kicks in, this will further bolster the bullish bias…
