Spot WTI Crude Oil forum
USOIL The 786fib is waiting,next time will be breaking it.This is the move I was waiting for today, it might still happen.
USOIL 3 recent Touches again on the neckline of the 618, it just cant get past this level, its in a relationship with it.
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WTI A last word before I really go back on break til Monday, for sure: - A retracement of 33% means 8 out of 10 times likely to go back to the top.
- A retracement of 66% means 5 out of 10 times likely to go back to the top.
- A retracement of 100% means a 1 out of 10 likelihood it goes back to the top.
OIL_CRUDE small pullback and soon off we go above this level...
USOIL fundamentals negative But it will go up
WTI I'm suppose to be on break this week, but saw the comments and would like to show you the landscape:- Hourly is in Bullish Market Bias.
- The bull run already passed the pivot high of 72.440, so the intent was to go up more and surpassed the Swing High of 72.773 (from October 24).
- There are two more Swing Highs above that at 72.801 and 72.865. With each Swing High breached by the end of the hour, more profitable moves to the upside. But if they get rejected with the bullish candle's upper wick by the end of the hour, then down it goes to retrace towards 71.875 (or nearby) from Mean Reversion.
Imagine a bowling ball hitting the first Swing High, the other two are right behind them to fall as well and the ball keeps going until a reversal pattern. A wonky "W" pattern is forming with more moves to the upside. But if it retraces down, then a giant and wonky "M" pattern is forming.
See you on Monday!
WTI Those looking for sells can try $73.46-$73.75 Range
WTI Sell now don’t cryOIL_CRUDE loosing steam...