USOIL

4. Aug.

USOIL experienced a significant drop last week, reaching the bottom of the daily demand at the 72.995 region, where price has since rejected. A retracement into the 4H supply is expected next week. Anticipate a price drop once the supply zone is tapped, either the first or second. Have in mind the analysis on USDCAD, we are anticipating buys so this confirms our bias on Oil as well. But again let's just wait and see what price will do.