Price at daily T/L, if oil stays strong, possible drop then retest of S/R and Previously broken T/L then lower
Possible drop to 161.8% then to previous support now resistance for short, than lower (contingent if oil stays strong)
Just an observation. Sorry about all the levels, they are from shorter TFs
Price seems to have rejected 23.6%& previous S/R zone-a possible rally to a T/L above
But, closed above (last week) 50%-Observation only
But, closed above (last week) 50%-Observation only
Seems to be rejecting 38.2% and previous S/R zone on 4hr. Maybe drop to up T/L and another previous S/R zone
Also T/L & 200 sma below
Possible bounce to previously broken T/L and previous S/R zone then lower
Rally to previously broken T/L & S/R then lower
Possible drop from next previous S/R zone to previously broken daily T/L or possible rally to 38.2% and previous S/R zone, then lower
2 daily T/L 23.6% and 200 SMA and previous S/R zone
Price close to 38.3% and Previous S/R zone-possible rally to previously broken T/L then maybe lower or drop to 61.*% and previous S/R Zone
I pulled the fib from the wrong spot....so sorry. I'm tired, price is actually at 138.2% extension which is also previous S/R zone
price hit 127.2% extension and previous S/R zone on daily
and previous S/R zone...possible rally to overhead T/L
Maybe a push to previous S/R zone and daily T/L and 61.8% (all in same location on daily)