Oil Looks To Regain Strength Amidst Fib Confluence

Lång

Lätta råoljeterminer (NYMEX:CL1!)

Uppdaterad

NYMEX:CL1! Lätta råoljeterminer

oil crude wticrude fibonacci fibonacciretracement fibonacciextension confluence cheminacci bullish daily

OIL has been gradually regaining strength over the last few weeks. A weakening dollar is helping to make this push upward as the bulls regain strength. Here we had a .382 retracement of this new bullish leg which coincided with the .382 of the major bearish impulse leg. From here it looks as if the market is on it's way to retest the 41.87 level which is my target 1. Target 2 is at the next retest of structure and at the 1.13 extension of the bullish impulse leg. Target 3 is between the at the 1.272 extension and the .786 retracement of the major bearish move at 46.00

Handel aktiv:

Target 1 hit

Handel aktiv:

Target 2 hit

Kommentera:

Note: Being that we broke through the target 2 levels, we also managed to break through a previous resistance level.

Handel aktiv:

Target 3 Hit!!!

Kommentera:

Fourth Target Reached. If anyone held that long. Congratulations

Trade stängt: målet nått

Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.