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InvestingScope
Jul 19, 2018 3:40 PM

Correction on 1D is over. Long to previous High. Long

Crude Oil (WTI)FXCM

Description

Instead of a consolidation the price pulled back just below the 0.618 Fibonacci retracement level on 1D (67.00), completing the latest Higher Low on the long term 1W Channel Up (naturally now neutral on RSI = 54.187, ADX = 26.022, CCI = -22.0485, Highs/Lows = 0). We are buyers again, expecting 1D to break into neutral levels as it fills the 70.85 gap. 4H already shows string upside bias (Highs/Lows = 0.8586) and the TP is 71.88 first and 72.86 in extension. On a monthly horizon 76.00 - 77.00 is the next Higher High.
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