MajorSignalsFx

MajorSignalsFx

Support broken and retested. Further downside expected.

MajorSignalsFx

Major level of support has been broken, retested and rejected. Expecting further downside from here which could indicate strong oil this week.

MajorSignalsFx

61.8% retracement met and rejected. Is this enough for a short?

MajorSignalsFx

Expect to see further bullishness after a slight retracement.

MajorSignalsFx

We could be seeing a possible Fibonacci retracement, but would the market provide us with such an easy set up?

MajorSignalsFx

Could go either way. Will wait to see how price develops.

MajorSignalsFx

Fibonacci retracement set up

MajorSignalsFx

Oil

MajorSignalsFx

Oil trade taken this week

MajorSignalsFx

We have somewhat of a head and shoulder formation here. We can also see that price has retraced nicely after a huge push down. I will be looking for one slight push higher on market open to tap into the 78.6% Fibonacci region, providing a perfect short set up.