Oil has an aggressive fibonacci sequence pushing us lower. Oil has another sequence trying to push us lower if we continue and break above 53.40's then we will retest this aggressive fibonacci sequence at the 38 and 50% levels. Until we break above 55.50's I am bearish on oil. If we break above 55.50 then I will be prepared for the long setups to take place. If you like these setups or want to learn more, then like/comment/follow I will be having a free trade room and chat room available soon.
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