OIL SHORT

Lets see if we can see usoil drop to 59.960

Keep in mind that the 0.382 fib level is now an area of resistance. It was support but then got broken and looks like the market has retested the previous support now turned resistance zone.
A close below this zone will indicate the formation of a lower High(on the daily time frame) and continuation of a the down trend to creat further lower lows.