1. Buy @23.16 t arget 1 is at 33.50 Look for retracement back to 27.10. 2. Buy at 27.10 target 2 is at 40.30
Channnel up to 0.67500 If we break the trend line below the closing candle, we may have to take another but at 0.63600 targeting the same level of 0.67500. Only there we can start looking for bearish set up to 0.5500
We may see gapping on opening of trades targeting $36. with retracements down to $25 as support. Remember the gap formed in feb/March, at $45 will the next buy target from $25. Crazy idea right, but this is Oily situation.
Looking at a the chart, a fall to 1765/1737 is on right now. On the long we may see retest of 1933.
From the analysis, I can safely say oil is on the uptrend. Look fo good entry at $16.07 with take profit at $20.23, which is the fibonacci level of 23.8, from this level we can sell for retracements of 1.61 fibo level@the price of $13.29. Good Luck!!!