WTI oil is rising towards a resistance level which is a pullback resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 80.06 Why we like it: There is a pullback resistance that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 81.56 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement.
Take profit: 77.06 Why we like it: There is a pullback support level.