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TFC Commodity Trading Forum

CL U2 Fibonacci spiral at work *PIC*

Below we have a 4hrs chart with some S/Rs derived from the Fibonacci spiral. Notice how the "value zones" are just above or below the Fibonacci spiral S/Rs with the exception of 92.27 (92.00 was my stop limit that got hit way before the projected time. The time and price was to hit tomorrow, Monday). CL U2 is now moving down to test 88.00 S/R. Finding support at 88.00 or so will open the door for a retest of 92.27 and much, much higher objectives. I'm currently flat and will wait till the next buy signal.

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