Currently oil is trading @ 73.00 dollars and we've been looking for a 50% pullback since the beginning of the uptrend after the devastating downtrend which was caused by the COVID19, we believe we are about to get our 50% pullback once price reaches 86.00 dollars. Once we reach 86.00 dollars we expect price to reach for the 50% around 52.00 dollars or 43.00 dollars if the bears decides to take it to 61.8%.
Once we get the complete pullback we expect the bulls to push price to 140.00 dollars completing our predicted price move.
Disclaimer: This idea is not a trading signal but it is merely just an idea any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities.
Once we get the complete pullback we expect the bulls to push price to 140.00 dollars completing our predicted price move.
Disclaimer: This idea is not a trading signal but it is merely just an idea any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities.
