Oil Is Flying

Oil is flying, but remember nothing goes up in straight lines. I am waiting for a pullback some time very soon as it has broken out of consolidation. The retrace if i were to draw the fibs would be back at the top of the box which would be the 38.2, but as the spike up hasn't finished i cannot draw my fib line.

So i expect a pull back to the top of the box which is around the $84 - $85 mark and if this happens I will be looking to long as long as other conditions are met.

Take profit would be around the $97 mark and my stop loss around the $81 area.

Hope this helps, but please ensure that you

Stay Disciplined,
Stay Patience and Persistent