Oil looking very bullish
Entry: 49.10
Stoploss: 37.30
Target: 61.60
- RSI is going down and nearing an interesting area where it bounced off in the past.
- The green triangle is support area, we are looking to long there. The darker green area is most likely to hold. (if price breaks that this whole idea is invalid)
- Fibonacci retracement 0.618 is at that area.
- One resistance line is broken and acts now as support, the one above will be broken and price may bounce off that again.
Entry: 49.10
Stoploss: 37.30
Target: 61.60
