It seems that wave a of D has ended and we have entered wave
Oil looking nice here with long trade. Risk/Reward 1:2.
- OIL REJECTING FROM UPPER MEDIAN LINE - GOOD REVERSAL SIGNS IN CANDLE - WEAKENING GLOBAL DEMAND AS EU CONTINUES TO GO UNDER LOCKDOWN - PROBABLE BIDEN VICTORY WILL ADD SELLING PRESSURE - TARGETS MEDIAN LINE AND; - LOWER MEDIAN LINE
- ASSET HAS RETURNED TO RESISTANCE LINE - PRICE IS ON UPPER DAILY PITCHFORK RESISTANCE - TARGET STRUCTURE LOWS BELOW ~$36-37
- MINOR DBL TOP ON 61.8 FIB - MARKET SELLING HERE - TARGET DEMAND ZONE OR L MEDIAN LINE
- COMING OFF SUPPLY - ON UPPER LINE RESISTANCE - SL ABOVE RECENT HIGH - TARGETS MARKED.
Potential drop in oil to Support levels of 41.30 or below...
