Oil to combust
As you can see we've been consolidating for some time between the .618 and .5 Fibonacci levels.
The weekly 9 MA appears to be rolling over insinuating the potential for more downside, and likely scenario of a death cross 9/20.
Waiting for a weekly close below the .618 level in order to validate the potential of targeting the .764 level.
Will look to short a backtest of .618 following the breakdown, and will utilize a 4 hour chart to determine entry.
Good luck and Cheers,
Mayo
The weekly 9 MA appears to be rolling over insinuating the potential for more downside, and likely scenario of a death cross 9/20.
Waiting for a weekly close below the .618 level in order to validate the potential of targeting the .764 level.
Will look to short a backtest of .618 following the breakdown, and will utilize a 4 hour chart to determine entry.
Good luck and Cheers,
Mayo
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.