WTI Oil more down?
Updated
Currently sitting above daily and weekly 200 EMA, and further downside looks quite possible. Price has broken below H4 200 EMA and support was turned into resistance at the 3.382-3.618 fib area. Triangle wave also in play here. $60 next stop?
It also has the potential to become bullish if upper trendline is broken and support is found again at the 3.382-3.618 fib area.
It also has the potential to become bullish if upper trendline is broken and support is found again at the 3.382-3.618 fib area.
Note
Seems to be pretty strong support on 4.382-4.618 area, with strong bullish movement appearing, higher lowsNote
Gartley pattern in play (ABCD and last point at this previous swing high). Accumulation occurred at this last swing high, which lies on the 2.382-2.618 Fib area - this area is proving to be quite strong currently.
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