US/OIL Long-Term Trend: Bullish
Key Resistance Levels: 84.86, 90.07, 92.90.
Key Support Levels: 80.08, 76.18, 70.52.
The price on the higher time frame found support around the 80.85 USD mark level, where the asset posted a hammer bar and a fake out to the downside signaling that the buyers are about to take control of the market. This will lead to a move to the upside all the way up to the next key resistance level.
US/OIL Medium-Term Trend: Bullish
On the lower time frame, the price found buyers near the 61.80 % Fibonacci retracement level which led to the end of the pullback correction and a move to the upside. Another lower correction could be seen before a new impulsive wave toward the target profits.
Buy Market Order @ 81.33
TP 1 @ 81.98
TP 2 @ 84.86
Stop Loss @ 81.01
Trade Safely 🙂