OIL 74.89, WHAT NOW!!
Previous post I mentioned oil breaks below 76.50 then expected move down to 75.50-74.60 support zone, break lower then expected move down to 73.11-71.10.
Oil held support at 74.60 -75.50 and currently at 77.20.
AB=CD scenario has been completed at 100% and a correction to 62%. Oil is still corrective and another 5.00 move is still possible therefore upside limit to 79.00-81.00, if oil does exceed these levels then expect 83.00 to 84.50.
Oil upside 79.50-81.00 then expect 83.00-84.50 and then higher.
Break below 74.60 then expect 73.11-71.10.
Have a great weekend.
Oil held support at 74.60 -75.50 and currently at 77.20.
AB=CD scenario has been completed at 100% and a correction to 62%. Oil is still corrective and another 5.00 move is still possible therefore upside limit to 79.00-81.00, if oil does exceed these levels then expect 83.00 to 84.50.
Oil upside 79.50-81.00 then expect 83.00-84.50 and then higher.
Break below 74.60 then expect 73.11-71.10.
Have a great weekend.
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