0.382/0.618 retrace and long? or just crash down
we saw a huge rise yesterday...
BUT, lots of people shorted at 41.39, 40.39 or 39.09
if we want a more big up for future, UKOIL tends to retrace to 0.382 or 0.618 to add more ...
OR, it may not support the retracement AND become a down trend reversal...
So both scenarios are possible.
Finally, weely TBL has closed above previous high 41.39 ... of which the volume is small.
So we may choose a direction next week for the future.
Keep going up to 50, or crash down to 30?
Trade safe.
BUT, lots of people shorted at 41.39, 40.39 or 39.09
if we want a more big up for future, UKOIL tends to retrace to 0.382 or 0.618 to add more ...
OR, it may not support the retracement AND become a down trend reversal...
So both scenarios are possible.
Finally, weely TBL has closed above previous high 41.39 ... of which the volume is small.
So we may choose a direction next week for the future.
Keep going up to 50, or crash down to 30?
Trade safe.