As I mentioned last week that oil reaches resistance weekly, its a resistance in an uptrend. Traders have to be nimble and carful here as the price could surprise us with some unusual moves. Thats on weekly.
But right now the price broke 23fib level and reached 38 levels from here we may see some reaction, this one we may scalp it / in and out as much the market offer without forgetting that price right now moving down.
The news from France president that Putin doesn't want to attack Ukraine effect the oil hard and price drop fast.
Now we have Oil on resistance weekly as I am short from 93 area, did go long based on short-term analyze but didnt work, I still believe that we may get some retracement at least to 23 fib level.
So I took long position on Oil against my original short and with a much higher amount, let's see if this works.