Usoil

Let’s analyze oil.

The annual cycle started with flawless precision and now we are on an important resistance, which could lead the price to a momentary redistribution. The acceleration was quite sudden, and if we place a Fibonacci retracement on the last vector we notice that 38.2% falls near our last support. Therefore, we are still medium term buyers, but in the short term we can attempt a short rebound. The Stop Loss will be just above the day’s high, so the risk is high but the loss is small. Otherwise the gain will be satisfactory ūüėŹ

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