Oil is at the bottom of its long termed rising channel. Testing supports. As long as we do not fall through the zone. This is a buy. Stop loss just under the zone and .786 fib. First target about 69. Gives 1:3 risk: reward ratio. Also supporting evidence would be what appears as a bullish Gartley.
Dan
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trade stopped out for a small loss, oil fell down from the uptrend channel and broke support zone.. now gonna look for retest of the zone and a short trade