42 is the bottom of the Crude Oil WTI, 62.44 is the next goal

11 Apr 2015

Above is the month chart of WTI with log scale price. We can see the fibonacci retrace level from 9.75$ to 147.27$. The 0.764 position is 42$. This is a signal of the bottom of WTI at the moment. Another indication is the Gan fans from 33.2$ at 2009, the 42$ is at 8/1 angle. The next resistance level will be near 62.44$.