WTI Crude Oil on the 4H chart is testing crucial Fibonacci retracement zones. Price is currently hovering around 75.01, right above the 0.786 retracement (75.72).
Resistance: 82.22 (0.5 retracement)
Support: 73.45 (-0.886 retracement zone)
The shaded support area near 73.45 remains a critical level to watch. A sustained hold above 75 could trigger a bounce toward 77.68, while a breakdown may open the path to deeper lows.
Traders should keep an eye on how price reacts around these Fibonacci levels — they often act as magnets for short-term moves and potential reversals.
Note: This post is for educational purpose only.
Regards
Bull Man
Resistance: 82.22 (0.5 retracement)
Support: 73.45 (-0.886 retracement zone)
The shaded support area near 73.45 remains a critical level to watch. A sustained hold above 75 could trigger a bounce toward 77.68, while a breakdown may open the path to deeper lows.
Traders should keep an eye on how price reacts around these Fibonacci levels — they often act as magnets for short-term moves and potential reversals.
Note: This post is for educational purpose only.
Regards
Bull Man
Trade active
so far going goodHigh made 78.51 and nearing our 1st tgt 80$
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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.