So.. Once again the Crude Bomb has exploded. As you can see from the attached chart, after the first breakout, it retraced and took support precisely at the fib level (See arrow. It then oscillated between the fib levels and now convincingly sustaining above the 38% level, indicating a higher chance of breaking out above the recent top of 103.45.
The Real Explosion comes when it breaks out above 103.45.
Unfortunately, we have to wait till tomorrow, to enjoy the game in our Markets.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
