Since the oil is just at the botoom of a channel and now it is fighting a pivot level, there is a high probability of bounce to the upper zone of the channel. I highlighted two possible entry levels and two target levels.
For further information about my trading style, live trading videos and analyses, subscribe to my YouTube Channel: bit.ly/17jWiog
Comments
Petr_Suchanek
⋅
Ok, the oil bounced off the the channel border, so the setup is already in play. If any retracement as a retest of the recent low occurs, it might be a nice opportunity to join the upmove.