Check chart for notes, not much to say besides bearish longer term, could see a bounce up to around $2 soon as OIL seems to be finding support.
Could easily find a 50% swing up before meeting the major resistance. But would set tight stops as the channel is bearish and the yellow trend looks like it could slap it back down.
RSI looks to be diverging as well (magenta lines)
I'm bearish for longer (month/2 month) swings, and bullish for ~1 week swing
Drag the chart in order to see the May 2013 for the purple bull range on the RSI
Could easily find a 50% swing up before meeting the major resistance. But would set tight stops as the channel is bearish and the yellow trend looks like it could slap it back down.
RSI looks to be diverging as well (magenta lines)
I'm bearish for longer (month/2 month) swings, and bullish for ~1 week swing
Drag the chart in order to see the May 2013 for the purple bull range on the RSI