Type: Bullish BounceKey Levels:Resistance: 114.85Pivot: 109.25Support: 107.28Preferred Case: Prices are on bullish momentum. We see the potential for a further bullish continuation from our Pivot at 109.25 in line graphical overlap towards our 1st resistance at 114.85 in line which is an area of Fibonacci confluences. Our bullish bias is further supported by RSI being on bullish momentum.Alternative Scenario:If prices were to dip, they can potentially reach our 1st support at 107.28 in line with 61.8% Fibonacci projection.Fundamentals:With inflation still being an issue in the west and stalemate circumstances in the Russo-Ukraine crisis, we might still expect bullish upside on the commodity
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/light-crude-oil-futures-cl-h1-potential-for-bounce"
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