USOIL Daily
Price is nearing a key level zone that has acted as support & resistance previously multiple times. This key level zone also aligns with the 61.8 fibonacci retracement of the long term impulsive downside movement that took place. I am looking for price to make a move up into 82.50 where on the lower timeframe I will look for confirmation of a bearish reversal, as there is a gap that needs to be filled after opening higher this week. Definitely a setup I will be waiting on & watching closely for a big trade as Oil has had a lot of volatility & movement.
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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.