Price fell so much, that it test 78.6% Fibonacci retrace right now.

wti-oil-d

If it will go lower than that, last bull defense line is 88.6% Fibonacci retrace and monthly support at 43.27. So I will pay attention on this level today, to see if I will get good daily or 4h signal to long that pair from support and 88.6% Fibonacci retrace (option 1). On the other hand, if we will get strong break of support, I will wait for a retest of previous support, turned into resistance and look for short signal from resistance (option 2).

wti-oil-4h

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.