BCOUSD is approaching our first resistance at 68.737 where we might see a corresponding drop in price to our first support at 66.345.
Stochastic is also approaching resistance where we might see a corresponding drop in price.
BCO is approaching our first support at at 58.978 (horizontal swing low support,100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 60.805 (50% Fiboancci retracement, 61.8% Fibonacci extension).
RSI (21) is also approaching our support where we might see a corresponding bounce in price above...
Hi everybody!
This is a true free fall of the BCOUSD, I tried waiting for a retracement but it is not coming. Verified that on higher TFs(Weekly/daily).
Next strong resistance arround 43.264(target as well)
I verified every step of the downfall that happened, that'is why I put a small fibo (there was 6 before) ( 5/6 follows the .382 fib)
Little bit of...
![BCOUSD: [BCO][BRENTCRUDEOIL] bad news for oil good news for us--NO RISK](https://s3.tradingview.com/x/XQJWXyQ0_mid.png "[BCO][BRENTCRUDEOIL] bad news for oil good news for us--NO RISK")
