Swing Trading Oil - Week Ahead
Using Fibonacci Extensions, the 1.272 line shows the support lines for the next few days leading up to Wednesday 6/17. On Wednesday, at 10:30 the EIA will release the weekly US Crude Oil inventories. Based on that data, prices may bounce off of Wednesday's 1.272 support line, which also acts as the bottom support of the uptrend channel (purple line).
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