Oil is still squeezed between 95 and 104
Oil is testing the Fibonacci 50% retracement 96.50. A break below this resistance could lead to a swing down and a test of 88.60, which is still an uptrend support. A bounce here and a break above 104.50 are required for the immediate upside continuation. No matter the short-term price action, Oil is in the uptrend, which will be violated only in the case of a break below 85.
Note: look for the short trade entries with the stop loss above 100
“If you think Investing is risky, wait till you receive a bill for not Investing!” Jim Rohn
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