🛢️USOIL It's expensive, time for a winter discount.
🛢️I've already predicted beautiful dips once it's time to present my point of view once again:
🛢️This time it's time for oil. I will present a purely technical view.
🛢️I will present the tools I used in turn:
🛢️1I have determined an upward channel. We are currently in the middle of it
🛢️2. I applied a fibo measure to the entire downward wave on the larger interval. We are currently at 0.236
🛢️3. I applied a fibo measurement from the bottom to the current peak of the uptrend correction in the downtrend
🛢️4. I applied the fibo measurement on the current downtrend wave. You can see that there was a double attempt to attack the 0.618 level
🛢️5. I determined a support zone around the 0.618 level of the entire current upward correction, and where price has found strong support in the past.
🛢️6. I determined the resistance zone we are currently in, it was determined based on 3 clusters of fibo levels. One by one from the largest. 0.236 of the entire downtrend, 0.236 of the entire upward correction, 0.5 of the last local downward wave
🛢️The scenario I am playing out is a bounce from resistance and heading towards support.
🛢️*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
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