OIL long view

29 сент. 2022 г.

Yesterday, oil price made a positive leap, from the $76.00 level to the $82.00 level. During the Asian session, we saw a pullback to the $80.30 level and, very soon after that, a new bullish impulse that makes a break above this morning's high. With the Fibonacci setup, we see that the pullback is now at the 61.8% level, and we need a break above to continue towards the next resistance at the 78.6% Fibonacci level at $84.40. Potential higher targets are $85.00, $86.00 previous high.