$USOIL - RC -
Added 2023-10-09 11:52:58 +0000 UTCThis is a CFD on WTI Crude oil. It tracks the price of Oil as normal.
The price is up at a modest 3.4% today, which was expected but it is not excessive.
I believe this is the start of Subwave 3 now and the price will continue to climb to $129 over the next 6 months.
The price is above the 50 and 200 Day MA and the corrective Wave C pulled all the way back to the 0.5 Fib in May this year, which is a perfectly valid pull back Fib level for support.
We are in $OXY heavy and it will likely benefit from this rise in oil price.
