Long term oil thoughts

4 thg 1, 2018

Looking at the pattern in the recovery after the 08 financial crash, there are some similarities in the current recovery of oil 0.03% prices.

• 1st level of resistance being tested now (May 2015 highs)
  
• 2nd level will be 0.5 fib retracement of June 2014 - Feb 2016 crash. Area has also acted as support/resistance at various times.
  
• 3rd level .618 fib retrace of same crash. Which too has acted as sup/res.
  

See a dip at this test of resistance before a final push higher? or will it continue its sharp rise to test 0.5 fib level