Si.Yang
Long

Crude oil retreated to 44.40 by the resistance

FX:USOIL   CFDs on Crude Oil (WTI)
Crude oil             retreated to 44.40 by the resistance
Comment: Take-needed 2 hours, if closed at 42.91 under the same policy or, if this is just a retracement, it would be a buying opportunity again
Si Yang, I think you might want to stick with your previous idea that price ceiling of crude will more likely around 43. REASON: 1. Fib retracement (0.618 point) of last the downfall shows this retrace might not higher than 43.5; 2. 43.15 area will be considered as a resistance; 3. The momentum and 4hr rsi wont support this as high as 44.4;
Best luck on your trading.

Xiao
Reply
Si.Yang XiaoLi
Thank you, probably close around 43.90
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