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Triangle correction is going on, lets see if it reverses @(E) which matches with .618 level.
Waiting for a pullback, lets see how it plays out.
Whether it touches the other end of the channel depends on next week market conditions, but at-least it will retest 1251 level.
Crude is in retracement, price should be going as per chart which is based on 618 level unless there is a breakdown.
All the previous trends retracements reached the 618 level and reversed. If it the follows the same trend this time, it would reach 18.6K level around Mar'20.
If it breaks the channel, then we can expect price to go below 420 within 4-5 days.
If it breaks above the triangle, then the first target would be around 1275 level.
Refer the chart for price action.
It's trying to break the resistance around 200. If it breaks, then we can aim for 216. Otherwise, it can slide back to the previous support zone around 175.