WTI, is a at bottom of its current range, I have highlited historical several iteration along RSI,STOCHS,as well as a price trendline. I
m scaling into a spot long above 80 usd, If it fails we can look to Macro instituional levles at the weekly 200 ema confluent with .382 Fibb extension, but a good chance 80 holds, and with recent development in the Pacific South East theatre involving Tawain we could see a military build up, where Oil and fuel will be back in demand, further analysis reagding OPEC and other global events could catalze.
m scaling into a spot long above 80 usd, If it fails we can look to Macro instituional levles at the weekly 200 ema confluent with .382 Fibb extension, but a good chance 80 holds, and with recent development in the Pacific South East theatre involving Tawain we could see a military build up, where Oil and fuel will be back in demand, further analysis reagding OPEC and other global events could catalze.
TheRealMongoose