US OIL : Break above 39.30 required for Bullish Continuation

Penjualan

CFD pada Minyak Mentah WTI (TVC:USOIL)

TVC:USOIL CFD pada Minyak Mentah WTI

trendanalysis chartpattern indicator oil oiltrading oilforecast oilprice oilshort wti wticrude wticrudeoil wtitrading

OIL has started the downward correction and reached around 34.60 which is the Fibo Extn. 1.61

Usually, if the price extends above 100% on Fibo, it's a sign of trend formation; one can expect the pullback and continuation of the move in the same direction.
Therefore, I remain bearish for OIL until it closes above the falling trendline and breaks resistance at 39.30

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