Oil has been chopping up and down in the past few weeks due to worries of global slowdown and question on demand. Here we have a classic 3 inside up pattern Daily, Bulls look to capture the 1D 38.2% retracement ($55.60) - 20ema ($57.10) - $58.76 (4h 200ema/1D 61.8%) - $59.60 (1D 200ema) -$60.60 ( Right below the 76.4% 1D/61.8% 1W). Keep an eye open for Api weekly crude stock, crude oil inventories and Opec Monthly meeting. Some Manufacturing and industrial production data is released this week for multiple reigons , another thing worth looking at.
