CL has broken market structure - it formed a LH & LL. Taking a LONG countertrend trade on the retest of the former 1H bullish OB, expecting a new LH to form in the coming hours. TP @ FIB 0.705 after which a SHORT trade could be considered depending on PA.
Possible targets for ADA for the next 3-4 months, based on FIB extension with fractals.
Early Jan 2022 - FIB 2.618: €5,55 (~$6,46)
Late Feb 2022 - FIB 3.618: €7,36 (~$8,57)
Assuming the bull market cycle extends into Q1 2022
If we can manage to close the day above the 200D Moving Average, that would make the case for a prolonged bull market that much stronger. We still have a challenge area around the 50K though, but let's take it one level at a time!