This setup is based on previous oil analysis, so we see price retracing to 61.8% fib level which also act as a high resistance level, so shall see a continutaion to downside
check the previous analysis for continuation to downside on link below
Nice risk to reward
Hope you guys enjoy the rest of week
We clearly see a nice daily downward trend and price still respecting the lower high level which is also in confluence with EMA pointing downward, showing still continuation
As we move down to lower timeframe like H4 and H1 we see price breaking structure to downside and current price is testing it as resistance
also it respecting the 50% fib level we could...
