OIL 2H TF, short view, entry around 61,8% Fibo level
OIL chart 2H TF, we are looking for a new place for a short trade.
Oil formed a lower low yesterday at $ 95.23.
Now we can set up Fibonacci and monitor the strength of the pullback.
Current resistance in the zone is around 38.2% levels.
Oil was form a new higher low at the 23.6% level, and we can expect a new bullish impulse.
Target is the zone between 50.0-61.8% Fibonacci levels, a price range of 100.30-101.60 dollars.
This is our next zone where we expect resistance and confirmation for the sell entry and the potential continuation on the bearish side.
The target for this short trade is the previous low at $ 95.23, and the maximum target to $ 92.50.
Oil formed a lower low yesterday at $ 95.23.
Now we can set up Fibonacci and monitor the strength of the pullback.
Current resistance in the zone is around 38.2% levels.
Oil was form a new higher low at the 23.6% level, and we can expect a new bullish impulse.
Target is the zone between 50.0-61.8% Fibonacci levels, a price range of 100.30-101.60 dollars.
This is our next zone where we expect resistance and confirmation for the sell entry and the potential continuation on the bearish side.
The target for this short trade is the previous low at $ 95.23, and the maximum target to $ 92.50.
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