andreirx

WTI Fibonacci retracement

Short
andreirx Updated   
FX:USOIL   CFDs on Crude Oil (WTI)
2
What I'm seeing here is a possible short term retracement to $44.

Similar retracement to 0.618 happened at the end of March, after volume divergence.

Volume divergence ongoing now.

There seems to be solid resistance around $50.
Comment:
A few scary days have passed, since I had already initiated a SHORT position. Now let's see how far down it goes
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.