After clearing the 200DMA, oil has spiked into the 61.8% retrace of the 2018 decline. Coinciding with this fib level are the lows set in July and August 2018.
Similarly in October 2018 the highs were set when prices ran into the 61.8% retrace of the 2014-2016 decline & also the lows made in 2011 & 2012.
4h pitchfork
2h pitchfork
Similarly in October 2018 the highs were set when prices ran into the 61.8% retrace of the 2014-2016 decline & also the lows made in 2011 & 2012.
4h pitchfork
2h pitchfork