As in the related ideas seems I was bullish in oil, but today's conditions seem to be overbought!
The upper line of the channel could be a resistance!
Here is the 1.618 Fibonacci level which is the ideal level of an A-B-C Zigzag.
And the structure also seems to complete five-wave in C wave.
Here is a resistance zone(red zone)
I'm expecting a failed break up to 28 and 30 levels and then a dramatic reversal. So I closed my long position partly!
The upper line of the channel could be a resistance!
Here is the 1.618 Fibonacci level which is the ideal level of an A-B-C Zigzag.
And the structure also seems to complete five-wave in C wave.
Here is a resistance zone(red zone)
I'm expecting a failed break up to 28 and 30 levels and then a dramatic reversal. So I closed my long position partly!
