OIL has reached weekly high of around $75 at 1.382 fibonacci projection for on wave 5. Potentially a reversal point as the developing weekly candle also looks like a Doji. Potential entry point for short. Correction ABC is expected when the price reverses.
Note
previous idea 
Note
this weekly chart still holds. price at support level, which is expected to break to form correction leg A
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Related publications
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.