Oil ST Retrace Getting Started? (Jan 17th through March 2021)
Oil Futures (CL) (January 17th 2021 through March 3rd 2021)
Low: $45.27-$48.58-$50.62
High: $53.15
I suspect we are just getting started on a bearish retrace of the oil futures right now. I think I had my fibonaccis wrong on the last attempt, so I wanted to try again with a bit clearer of a chart. This is only intended to be a short term retrace, but it correlates with a potential February / March downside I am seeing in other major markets as well. But this retrace could be quick and be back on its way up not long after the next few weeks.
This is a short term continuation from a bullish longer term idea I had, attached in related ideas below:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Low: $45.27-$48.58-$50.62
High: $53.15
I suspect we are just getting started on a bearish retrace of the oil futures right now. I think I had my fibonaccis wrong on the last attempt, so I wanted to try again with a bit clearer of a chart. This is only intended to be a short term retrace, but it correlates with a potential February / March downside I am seeing in other major markets as well. But this retrace could be quick and be back on its way up not long after the next few weeks.
This is a short term continuation from a bullish longer term idea I had, attached in related ideas below:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
