POTENTAIL PULLBACK BEFORE OIL FALLS AGAIN

At the moment USOIL is trading within the zone of support of resistance. Price is showing potential to move at re-test the price level i have marked with a grey horizontal line before advancing toward our target. Price would ideally pullback to gain momentum before completing the move. If you'd like to take a different view, should price re-rest this area, it would create what we call in classical technical terms as a ' head and shoulders pattern'