1. Yesterday's predictions achieved as expected as the price reached today @ $93.86 ($93.xx level) which is the highest daily record at ZigZag ++ indicator.
2. In general, prices are fluctuating at reasonable ranges due to long-term bulls activity and slow/wise performance of traders. At the moment, an engulfing bearish signal strongly detected as the price is hitting the $91.4x limit representing 0.236 level the on the Fib extension pattern. The said level is week to resist or support the pricing and the price is expected to fall down to the below level @ $90.8x to perform a LH valley on ZigZag++ indicator before testing and growing up again looking to perform a higher hill at the upper Fib levels.
3. The RSI and RSI-EMA10 intersections (figure 2) confirms the bearish tendency at the moment.
4. At the @ $90.xx level, short-term trader can buy and wait the prices to reach the on hour bases timeframe @ $92.8x level to start selling.
5. The above expectation based on at the moment circumstances. At the worst geopolitical circumstances, the oil prices will make an unpredictable jump.
2. In general, prices are fluctuating at reasonable ranges due to long-term bulls activity and slow/wise performance of traders. At the moment, an engulfing bearish signal strongly detected as the price is hitting the $91.4x limit representing 0.236 level the on the Fib extension pattern. The said level is week to resist or support the pricing and the price is expected to fall down to the below level @ $90.8x to perform a LH valley on ZigZag++ indicator before testing and growing up again looking to perform a higher hill at the upper Fib levels.
3. The RSI and RSI-EMA10 intersections (figure 2) confirms the bearish tendency at the moment.
4. At the @ $90.xx level, short-term trader can buy and wait the prices to reach the on hour bases timeframe @ $92.8x level to start selling.
5. The above expectation based on at the moment circumstances. At the worst geopolitical circumstances, the oil prices will make an unpredictable jump.
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Figure 2
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