$USOIL to break a top-FIB point; Could a Parabolic rise follow?
Updated
Keep very close attn to the 45.66 price-point.
It breaks the trade channel and the top Fibonacci retracement, and it could be the bull horn sounding with economic activity increasing in all sectors and most energy stocks reaping the benefits w/ a big rise. If OIL crosses 45.7 without a lot of resistance, there cannot be a more bullish indicator given as a confirmatory signal of this bullish trend continuing.
GL, if you need it.
-BDR
It breaks the trade channel and the top Fibonacci retracement, and it could be the bull horn sounding with economic activity increasing in all sectors and most energy stocks reaping the benefits w/ a big rise. If OIL crosses 45.7 without a lot of resistance, there cannot be a more bullish indicator given as a confirmatory signal of this bullish trend continuing.
GL, if you need it.
-BDR
Note
Onwards ho at 45.76...more bulls released than Madrid. It's about to get real green, for oil investors.Note
Interesting to note it held support until futures markets opened. Now it is down to 45.2; that trend may continue. The market is closed Thursday, but expect Friday's shortened session to have many locking in a profit and exiting positions.Note
Oil ultimately faced its rejection just above the FIB top out. It has reversed over today's trading sessions. All oil-related positions were exited at profit early in Monday's trading day. There is still a long, but this trader sector shifted in reaction to the resistance faced by USOIL.
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