Lets see if we can see usoil drop to 59.960
Keep in mind that the 0.382 fib level is now an area of resistance. It was support but then got broken and looks like the market has retested the previous support now turned resistance zone.
A close below this zone will indicate the formation of a lower High(on the daily time frame) and continuation of a the down trend to creat further lower lows.
Keep in mind that the 0.382 fib level is now an area of resistance. It was support but then got broken and looks like the market has retested the previous support now turned resistance zone.
A close below this zone will indicate the formation of a lower High(on the daily time frame) and continuation of a the down trend to creat further lower lows.
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Related publications
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.