USOIL - KOG

Quick update on Oil. We suggested the test on the double bottom which is where we wanted to see a reaction in price. We can now see its formed another double bottom has broken out of the the trend. The retest is complete so we would expect this to target that resistance level around $107 where we may see another pullback. We have a lower target on Oil so we will be looking for this to complete the move and then look to short the this again.

As always, trade safe.

KOG