- 28 has shown to be a support and resistance a few times since march
- further using fib from the bull session which started around 24; the 0.618 is also at this zone
- from what i saw there was also a bearish flag earlier
- us-china tensions are rising which is always bad news for oil
- long weekend ahead
- profit taking
- if we reach 28 I would imagine we then begin a very strong bullish run, there is ofc the possibility we break this and go down further but with all the influence in oil ATM It's a tough one...
just my thoughts!