SuccessTrader

OIL consolidation and reversal soon

FX:USOIL   CFDs on Crude Oil (WTI)
Oil
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oil
I am still long on oil . YES, there is basis to support a reversal on long term daily chart , this is a reversal zone, but I think the potential reversal of OIL is maybe a bit premature. The reason for this is oil has not yet reached 38.2% daily FIB level as indicated on my chart. I think we will see some consolidation/hesitation now then another push upwards with tops being around 43.95-44.40 is possible. Let's see.
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