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.
Comments
LorenzoDecaria
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nice analysis, bue entering countertrend is always risky
EmmanuelDuru
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Fair enough, plus it has hit a critical support as well. Nice analysis