According to Ichimoku, we're definitely bullish on long term.
Prices are perfectly supported by Daily Tenkan during their ascent.
With a Fibonacci Extension, I think that $92 is a probable target to look at. If this one breaks, we could look at the 1.618 Extension, at $109.9. Will depend on the evolution of the situation in Ukraine.
A possible fundamental bearish news could be that the de-escalation leads to a decrease in the attractiveness of black gold and produces a pull-back in prices, towards the Kijun Daily as first support.
What do you think friends ?
Prices are perfectly supported by Daily Tenkan during their ascent.
With a Fibonacci Extension, I think that $92 is a probable target to look at. If this one breaks, we could look at the 1.618 Extension, at $109.9. Will depend on the evolution of the situation in Ukraine.
A possible fundamental bearish news could be that the de-escalation leads to a decrease in the attractiveness of black gold and produces a pull-back in prices, towards the Kijun Daily as first support.
What do you think friends ?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.