I checked oil daily chart again, after week or so.

gbpusd-d

We came back to that monthly support at 43.27, tested 61.8% Fibonacci retrace and also rejected trend line. So lot’s of confluence to start thinking that price will move up again.

When moving down to 4h chart, we can see that TL was retested from above.

gbpusd-4h

Today there is Crude Oil Inventories news fo this news could bring some volatility to the market.

One thought on “WTI oil trade plan for 28. of October”

  1. NIck T says:

    Igor, do you think the US Government selling from the strategic reserves starting in 2018 will impact price much today (or in the near future)?
    http://www.marketwatch.com/story/oil-extends-losses-ahead-of-us-inventory-data-2015-10-27

Leave a Reply

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