BOIL: Piercing Line Bullish Reversal Visible on Weekly at 1.618
BOIL; The 3x Bullish proxy for Natural Gas is showing Bullish Divergence at a 1.618 Fibonacci Extension after confirming a Piercing Line on the Weekly Timeframe at said level.
If it plays out i think BOIL could come back up to fill some gaps, meet the moving averages, and see anywhere from a 200%-700% rise.
I do however think USOIL will see a decline and that the two will move in opposing directions for awhile as that is something that they they tend to do.
As a side note we also have a Daily Bullish 3 White Soldiers on Natural Gas itself as well as a Bullish Shark that can be seen here:
If it plays out i think BOIL could come back up to fill some gaps, meet the moving averages, and see anywhere from a 200%-700% rise.
I do however think USOIL will see a decline and that the two will move in opposing directions for awhile as that is something that they they tend to do.
As a side note we also have a Daily Bullish 3 White Soldiers on Natural Gas itself as well as a Bullish Shark that can be seen here:
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