I think this latest bounce wants to hit the 3.618.
The 4.236 Fib extension is a common wave-ender.
But that would require OIl to pullback some which I think it will.
Wednesday is US OIl Inventory report, which might spike price.
I am long now, hoping to have SL in profit before the news.
Closer measurement of the move shows its Impulse and the ripples, just as ALL moves have And, it shows why we bounced a little ABOVE the red fib at 1.23755. That red fib's repulsion was added to that of blue 5.618, allowing it to deflect price twice and launch it towards next energy band.
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