As we inspect oil prices after last weeks strong USD forcing Oil to come down in price as well as some news effecting this too.
gotta few key levels after using a fresh Fibonacci retracement on the previously formed lows from last week
for the bulls we really want to see Oil come up and close above $68.6 with support from the 0.386fib level, this could push up if the DXY/USD starts showing weakness after its recent rise and targeting $73+ as an exit price, we see a trendline possibly stopping any further increases
on the bears side, i feel the price needs to fake out on going above the fib levels and showing clear resistance on price, if it falls under $67 and cannot get up over these levels then its possible especially with a strong US dollar forcing oils price downwards breaking the trend lines to possible bottoms of $58-$56 to eye up targets on a short position....
any Q's please contact BTFD group in Telegram below
交易進行
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closer look
waiting for a close above or below
評論
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crude oil inventories today at 3:30pm GMT +1 (40 minutes from this post)
few things playing with price
IRAN deal
US/China trade war
potential drop in US crude oil
交易進行
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broke up resistance and looking for it to close above, pullback to the fib level 0.382 for best entry around $66/67
TP $73 & $76
if price breaks lower than that fib 0.382 level, watch for a close below and acting as support for a push higher
交易結束:目標達成
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totally smashed it with this trade
congratz guys, welcome to solid profits
if still in trade raise up stops, im not sure how much it will go past 76