Long time, I told that oil will go to 35
Last month, it broke the support line (78.6% fibonacci level) after touch 61.8% fibonacci level.
Now again touch 78.6% and dont break it. And will go down.
Maximum point of movement is resistance line.
Oil it has formed a head and shoulders pattern and signs of fading momentum . It has broke the lower zone to the top zone and has come back to the lower zone. The market is shifting sideways at the moment and I will only look at the this if it break the neckline for a possible long term trade.