Bulls would be taking profit today from last week's BUY order.
Drawing a fib on the daily chart, we are seeing a definite area for price to reverse, however, we are still in a Bullish trend on Oil.
We may see an opportunity for a short-term SELL for Bears to enter right around 59.73.
Once Bears take their exit for that short-term order, we can definitely expect a new BUY Zone for Bulls to enter.
Drawing a fib on the daily chart, we are seeing a definite area for price to reverse, however, we are still in a Bullish trend on Oil.
We may see an opportunity for a short-term SELL for Bears to enter right around 59.73.
Once Bears take their exit for that short-term order, we can definitely expect a new BUY Zone for Bulls to enter.