I made a chart and study about the big picture concerning Oil. However, on the short term and based on the request of friends, here is what I do see about WTI.
On the very short term, there is still a room for WTI to move towards 44.5
This is a very strong support level. Bellow that level, bare in mind that WTI would go deep down towards 33 and bellow.
Now, on the chartist front, if the brake of 50%Fib retracement is confirmed, WTI would go towards44,38. That would be a levle to wait before deciding to enter long in the market in case.
And keep in mind that ECB will launch its QE on march 6th. therefore until that day, WTI may continue to go down. But on the long run, there will be opportunities to go long and interesting enter point.
On the very short term, there is still a room for WTI to move towards 44.5
This is a very strong support level. Bellow that level, bare in mind that WTI would go deep down towards 33 and bellow.
Now, on the chartist front, if the brake of 50%Fib retracement is confirmed, WTI would go towards44,38. That would be a levle to wait before deciding to enter long in the market in case.
And keep in mind that ECB will launch its QE on march 6th. therefore until that day, WTI may continue to go down. But on the long run, there will be opportunities to go long and interesting enter point.