The next key support area to watch for the EMERALDOIL over the long term.. watch for a reversal or a breakout .
EMERALDOIL is retesting a potential key support area:
- Main previous horizontal support area.
- The 127.20 Fibonacci extensions for the latest bullish wave
- Major indicators are showing oversold
We might see a bounce from here, thus I would target 50 as a first target for the potential bullish scenario
If we break below 45 with daily closing, I would close longs and short targeting 40 as an initial target. ALLAH vorosa
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