After a recently big fall in oil, now we have a retracement to the upside. I'm looking to retouch the 39.5 ~ 40 zone. There is a confluence of 14 moving average and a .50 fibonacci retracement. I'm looking for a big correction to the donwnside. Targets are in the chart
Trade active:
Open position short at 40.4
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Adding new possition at 41.1
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So far so good!
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Taking some profits at 39
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Open new position at 40.2
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Taking some profits at 37 the ride still wil go down I expect at least 30 price