Crude Oil has been performing well over the 2016; and it seems like the rise will continue. Eyes are on $55 for the 1st target; just under $60 for target 2; and just under $70 for target 3. The wave has printed some nice supports and it seems like it has been unaffected by the recent strength of the dollar.
We're either correcting from the last huge downward move (from $110) which is hoping to hit the 0.5 fib at ~$70 ; or we're starting an impulsive wave. Regardless, it seems like the risk reward is good enough to safely long here.
Happy trading!
We're either correcting from the last huge downward move (from $110) which is hoping to hit the 0.5 fib at ~$70 ; or we're starting an impulsive wave. Regardless, it seems like the risk reward is good enough to safely long here.
Happy trading!
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