Bounce from support but for how long? is the bottom in?WTI Oil SpotFX:USOILSPOTRheo99There seems to be a decent bounce from 55, but is it enough? on 4hrs there is a W formation, on the 1hr, the hns failed also, as it went up...Also it broke through the minor down trend line. Only thing now is that on 4hrs, RSI might be curling down.. so anything is possible. it can still fail and drop. On the daily, weekly, the channel is down trend. Zooming out.. So far, i would like to see the bounce to test the 50MMA and 200MMA as those have failed for a while now. Only then it is possible that this can go up.. and even then it has to go all the way to 66-68 to actually break free from the down channel. On the shorter time frame, 58 might be possible if it breaks Thursday daily top of 57. All in all its a mess. I would like to see a clearer sign of bull. ($2-3 move up) if you look at previous bounces from a bottom, most of them have shown to be quite significant.