FullTimeTrader
Long

USOIL-IS RESPECTING THE TRENDBASE FIB EXTENSION LEVELS

FX:USOIL   CFDs on Crude Oil (WTI)
404 2 4
Finally we can see clear signs of oil             rebound.
When theres no historical levels of S/R to support our analisis the trendbase fib extension tool is very usefull, this case is classical.
Here the prices is respecting the
0.768
1.61
2.61 levels
The engulfing bullish candle is my confimation to go long.
Happy Trading.
nice analysis, bue entering countertrend is always risky
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Fair enough, plus it has hit a critical support as well. Nice analysis
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