The idea we've been following in Oil is now starting to become relevant. The price reached the top of the H4 chart range. There is still room for another push higher though.
We can split the potential scenarios into 3.
Scenario #1 - Another push higher then reversal from the zone marked.
Scenario #2 - Immediate continuation lower, bouncing from the 100% extension and the beginning of the top zone of the range.
Scenario #3 - Of course would be the invalidation. This is where the price breaks above the top of the range and creates momentum.
We can split the potential scenarios into 3.
Scenario #1 - Another push higher then reversal from the zone marked.
Scenario #2 - Immediate continuation lower, bouncing from the 100% extension and the beginning of the top zone of the range.
Scenario #3 - Of course would be the invalidation. This is where the price breaks above the top of the range and creates momentum.