Crude Oil Prices Rise Shaprly
ICN.com | Apr 30, 2015 07:01AM ET
Oil price rose sharply to trade above 127.2% Fibonacci level located at 57.35 – 57.20 and above linear regression indicators. Trading above the aforesaid level 57.20 will cause more bullishness toward 60.00, while breaching 60.00 level will accelerate the bullishness toward 61.45 Fibonacci 161.8% level as the image above shows.
Only breaching down 55.70 can cancel our bullish expectations, however, we prefer trading above 57.20 to keep a higher probability for bullishness.
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