Technically, the oil prices are on a strong footing and a monthly close above $115 per barrel would only take the prices higher, towards $145 a barrel, which is near an all-time high. Oil is currently trading above the important Fibonacci retracement level of 61.8% and faces resistance in the price band of $ 115-120 a barrel. For a detailed analysis, visit here: nikhil9154.wordpress.com/2014/06/25/a-crude-fact-oil-really-doesnt-care-about-iraq/
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.