Here on Brent Oil we have a bat pattern (much cleaner than West Texas) the Grey Box indicates some areas of confluence. the middle of the box is the .886 of the XA leg. the low side of the box is the 1.618 Fibo Extension of the ABC legs of the pattern and the top range of the box is 2.0 range of the BC leg. this area has proven on the left to be quite powerful...
WTI is hovering above linear support on $48.92 (approx), and in this case, the trending support line (the green dotted line) traverses linear support indicating that we should prepare to go long.
Stochastic shows an indication for a preparation of strength in price rise.
Look for an entry reason around linear support of $48.92 approx to buy WTI long term on the...
