Price is nearing a key level zone that has acted as support & resistance previously multiple times. This key level zone also aligns with the 61.8 fibonacci retracement of the long term impulsive downside movement that took place. I am looking for price to make a move up into 82.50 where on the lower timeframe I will look for confirmation of a bearish reversal, as there is a gap that needs to be filled after opening higher this week. Definitely a setup I will be waiting on & watching closely for a big trade as Oil has had a lot of volatility & movement.
Komen:
