WTI has exceeded my entry levels...licking wounds is the phrase here.So, now the level to watch is $96.60/70 200MA on the 1h chart is at $96.68
On the 4h chart, 50MA is $96.65. This is another reverwsal area. Fib resistance is at $96.86 (not shown).
Conservative traders may also use $94.91 swing low on 1h chart to enter shorts. Hourly close below $94.91 will give first confirmation that it is coming back down.
P.S. If it is Santa Claus rally lifting oil, then a test of $97.5-$98 is likely.
On the 4h chart, 50MA is $96.65. This is another reverwsal area. Fib resistance is at $96.86 (not shown).
P.S. If it is Santa Claus rally lifting oil, then a test of $97.5-$98 is likely.
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