The pattern suggest further upside short-term. The GANN fan for medium-term and short-term attracts likely $ 128-135 per barrel. However, be careful for the run up, as the steepness will provide the clue when a return will take place.
For now, short-term BUY strategy is more likely beneficial in view of the GANN studies. The stochastic RSI also is positive and crossed 50. For now BUY $ 119-121 with tight stop-loss 116.50 and take profit $ 129.00 for now.
We start being SELL mode only once we are near the top of short-term GANN resistance.
I don't expect 129. I think we already on the top. Could be manipulation but I doubt. The oil too overbought. Nobody wants it for that price and technical analysis is showing "sell".
ShortSeller76
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I'll wait for another short entry. Oil is up for false reasons ultimately I say we have $65 oil again. World economies are heading into recessions, defaults, debt will collapse all these artificial bubbles