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Tickmill
Jun 4, 2018 4:11 AM

BCOUSD approaching support, potential bounce! Long

Brent Crude OilOANDA

Description

BCOUSD is approaching support at 76.27 (100% Fibonacci extension, 61.8% Fibonacci retracement, Elliot Wave structure) where it could potentially bounce off from and rise to its resistance at 78.38 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 5.17% where a corresponding bounce could occur.

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