$DO Weekly big area coming up

20 באוק׳ 2017

Oil is moving up and DO is coming up on a big crossroad where the prior resistance of $15-$15.50 area is going to be tackled. At the same time it is also at the descending trendline that started 3 years ago. It is flagging on the daily chart as well. Does it have enough power to correct its course and go up from here? A lot will depend on oil prices and earnings due out in 10 days, but I believe it might be the right time to try this out.