Light Crude Oil FuturesUpdated Crude Oil - At Major Resistance
According to Fibonacci spirals, oil have reached 73.52 in recent rally. This remind us in the previous fibonacci projection, at 70.05, oil price fall into correction for one month or more then continue the rally. Should oil retraced from here still uncertain given oil price trend remain strong and moving in higher high higher low structure. But, if you agree price structure in natural phenomena manner (wave manner), a pullback after strong rally will not be strange.
This post could be premature, so it will serve as an education type and waiting price for confirmation.
This post could be premature, so it will serve as an education type and waiting price for confirmation.
Note
Price has breakup and make higher high. Please refer to latest post on price projection.
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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.
Disclaimer
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.