We have crude oil trading in an uptrend, and found support at the rising trendline. From here I expect to retrace from last fall at least the 0.382-fib. From there it might retrace some before going up more.
A retrace from 0.5-fib is also possible, that would be the end of the retrace of the freefall. But untill we see clear fall I will be hedging from there and not closing long directly.
RSI also showing a falling wedge, a breakout is a serious up-move from here. I am long since 59 a bit late posting the idea. But I was waiting for opening price to share it with you guys.
A retrace from 0.5-fib is also possible, that would be the end of the retrace of the freefall. But untill we see clear fall I will be hedging from there and not closing long directly.
RSI also showing a falling wedge, a breakout is a serious up-move from here. I am long since 59 a bit late posting the idea. But I was waiting for opening price to share it with you guys.
