Traders,
This is a weekly chart so that we could ignore all the small fluctuation on 1h or 4h chart for commodity like Crude oil.
Oil suffered a sharp down from FIBO 1.618 OR FIBO 1.27( pls check where are they from). But still we see the purple trendline is still valid so far. That could help CRUDE OIL back to 72-72.5 where we are waiting for a good reason to short USOIL again, considering the fundamental news that increasing-production on USoil is on the America and Saudi' new plan after Iran nuclear agreement event. Down to 66.5 is the first support , and then is 60.
Less is more!
This is a weekly chart so that we could ignore all the small fluctuation on 1h or 4h chart for commodity like Crude oil.
Oil suffered a sharp down from FIBO 1.618 OR FIBO 1.27( pls check where are they from). But still we see the purple trendline is still valid so far. That could help CRUDE OIL back to 72-72.5 where we are waiting for a good reason to short USOIL again, considering the fundamental news that increasing-production on USoil is on the America and Saudi' new plan after Iran nuclear agreement event. Down to 66.5 is the first support , and then is 60.
Less is more!
