WTI Crude, and USO by extension, continue to hit and bounce and break through three key sets of Fibonacci projections/extensions. Overall sentiment is bearish. I Included the Fisher Transform, Vortex Indicator, and the Ultimate Oscillator as other relevant predictors of price action. I believe WTI and Brent are headed much lower, even to a 'one-day-only' $15 print in WTI.
WTI or USO - $15 level? USO - quite possible ... WTI - I'll have some of what you're smoking haha ...
d.jay.h
⋅
make sure to press arrow to 'load new bars,' obviously
d.jay.h
⋅
For USO, Super, Large, and Minor Fibonacci Projections Below:
100%,76.4%,61.8%,%0%,#8.2%,23.6%,0%
Super 22.71, 17.30 13.95, 11.24, 8.24, 5.19, 0.22
Large 28.95, 25.04, 22.62, 20.67, 18.71, 16.29, 12.38
Minor 22.66, 21.16, 20.22, 19.47, 18.71, 17.78, 16.27
if USO breaks 16.29-16.27, there is no support until 13.95!
d.jay.h
⋅
USO intra-day high of $18.70 confirmed the sound resistance @ $18.71 (see Large and Minor Fibonacci levels below). So excited to see what happens tomorrow. As a trader, when you begin to realize the relevance and repercussion of Fibonacci levels, it reveals the entire profession in a new light entirely.
d.jay.h
⋅
*100%,76.4%,61.8%,50%,38.2%,23.6%,0%
d.jay.h
⋅
Dots trailing the price are a Parabolic SAR...just discovered it, very useful.