OIL 2H short view, and 61,8% Fibonacci level
As we can see in the graph, the oil price makes a pullback according to a certain pattern.
By setting the Fibonacci level to each previous high and low, we see that the pullback ends in the zone of about 61.8% of the Fibonacci level.
Additional bearish pressure from the top creates a line of resistance.
It is very likely that we will see the oil price in the zone at around $ 90.00-92.00, place before the beginning of the intervention in Ukraine.
By setting the Fibonacci level to each previous high and low, we see that the pullback ends in the zone of about 61.8% of the Fibonacci level.
Additional bearish pressure from the top creates a line of resistance.
It is very likely that we will see the oil price in the zone at around $ 90.00-92.00, place before the beginning of the intervention in Ukraine.
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