There are 4 signals that make you buy the oil for trading in short term:
1- Price near to MA 50 which acts as support.
2- The uptrend line shows considerable support for the price.
3- The decline lookalike a correction pattern based on Elliott wave theory making the opportunity to buy for another a rising leg.
4- The price is close to 38% fibo retracements.
%- At 15 min chart the correction wave (WXY) is about to complete at 75.12
Best price to buy from $75.2 - $75, Stoploss 74.55, the target is 77, Risk/reward ratio is 1:4
Good luck
1- Price near to MA 50 which acts as support.
2- The uptrend line shows considerable support for the price.
3- The decline lookalike a correction pattern based on Elliott wave theory making the opportunity to buy for another a rising leg.
4- The price is close to 38% fibo retracements.
%- At 15 min chart the correction wave (WXY) is about to complete at 75.12
Best price to buy from $75.2 - $75, Stoploss 74.55, the target is 77, Risk/reward ratio is 1:4
Good luck