WTI long
Weekly chart shows a more clear picture to me. We touched a major Weekly support at 42.295 in December and now we moved very strongly upwards.
The 200 EMA is is at 50% Fibonacci level, which could be next strong resistance, also the 38.2% Fibonacci level at 55.525 will be a key point, but I would like to see the price to reach 59.6 (up until 63.70 would be even better) before resuming down move.
The 200 EMA is is at 50% Fibonacci level, which could be next strong resistance, also the 38.2% Fibonacci level at 55.525 will be a key point, but I would like to see the price to reach 59.6 (up until 63.70 would be even better) before resuming down move.
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