BLUE43

USOIL BULLISH AT THE 0.263 IF CROSS NEXT IS 0.382

FX:USOIL   CFDs on Crude Oil (WTI)
305 3 41
....
Comment: pause at R2, first resistance
Comment: trendline back?
Yes, I am long on oil too.

Many here taking a view that a reversal is imminent, and the daily support/resistance supports that theory. But the show's not over til the fat lady sings - Remember the basis of identifying a trend - 4H still shows higher highs and lows. I think we'll see a retest which is closer to daily 0.382 FIB around 43.95 before we see the reversal. What do you think?
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Nice Chart you got. on my 2hr chart I'm showing we are already at the .618 fib, next is the .50 fib
snapshot
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I think it will. I am already long in this from 40 and looking for 45.70 as target as I think it will have a big bounce back up after being bearish for too long.
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