1). Inflation came-out lower, which is a Barometer for Oil! 2). Extension of 5 wave sequence! 3). Volume is starting to drop on the rise! 4). Banks are Buying liquidity! 5). Trend is intersecting with 200% Fib. level! 6). Economy is slowing! 7). Checks all the boxes for reversal! 8). Hopefully, the situation won't escalate further!
Note
Conflict in Middle east, pushes OIL prices higher on demand! 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.