Turning Point for Oil (CL)
Oil is currently trading around the 0.13 fib of our latest untested swing down. The 0.13 and 0.886 fibs, respectively, are often the last chance for price to hold a level and make a higher low/high. Here, Oil could find support around $20.5-$21, which would make a nice higher low. If Oil goes below this swing, then I would look to buy lower, around $18-19.
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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.