Fibonacci analysis...Interesting comments, below !!! CL is WTI chart, It's only another view to analyse chart !!!
Please do your DD, it's your money !
CL: I have a different interpretation of CL than Ark. I'm seeing price is having bottomed (or bottoming) in wave 4.
We have a possible 5 up from the August low which retraced nearly 100% into yesterday's low. The bounce from yesterday's low, though small, is possibly impulsive. And even though the bounce is potentially impulsive it could just be an A of b in red.
To entertain any immediate bullish outcomes price needs to remain above yesterday's low. For bulls to resoundingly take control buyers need to push price back above this week's high and ultimately we need to see a bigger 5 waves up to resoundingly establish a low in place and price heading up to $150+
CL: Micro support for continuation higher off of yesterday's low is $87.25-$88.05