Oil possible Bottoms
Updated
I'll be looking for signs of reversal once we reach any of these points. Although I'm thinking the 0.5 Fib more likely to be the bottom, I can't rule out the 0.618 Fib. Shorting beyond this point is not advisable. W/L Ratio is not good
Comment
The point for a perfect Inverse Head & Shoulders was arround 39.3 which got hit yesterday an then again earlier today.tradingview.com/chart/Ni6Tx3UO/
Comment
On our 4hr chart, looks like Oil is making a wedge, meaning it could fall some more, and possibly make a new bottom. So I recomend being careful with longs. This could be a short opportunity (but risky) once the wedge is broken.Trade closed: target reached
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