I just shorted oil
786 fib
Move is slow and corrective indicative of retracement rather than new highs
key structure
My targets are the green lines. Last target is 1.618 inverse extension and structure level
Move up after country deal was BS Russia and OPEC both increased their production in the months leading up to deals. I don't think they are fundamentally strong enough to move the price without the technical moves finishing . Technical points down IMO
786 fib
Move is slow and corrective indicative of retracement rather than new highs
key structure
My targets are the green lines. Last target is 1.618 inverse extension and structure level
Move up after country deal was BS Russia and OPEC both increased their production in the months leading up to deals. I don't think they are fundamentally strong enough to move the price without the technical moves finishing . Technical points down IMO
Comment:
I lovw it when that happens makes me feel like I know what Im doing lol
Comment:
Lesson to self: Initial trades were good but I chased price on some and was stopped out for small loss. Still think it'll drop.