CL continues to make higher highs and respect its fibonacci levels..
Yesterday CL gave us a 50% reteacement Long entry @ the 61.26s
The -23% target was hit @ 62.30 and then blew past it by more than 5 pips.
Therefore CL algos are now trading Extensions. Previous high of the 61.97 to new highs at the 62.79s.
The -23% trgt is at the 62.98.
Two things will happen at the 62.98 profit target
1. We will see a pullback to the 50% -61.8% retracement zone same anchor low 61.97 to new high.
2. We will draw aggressive extensions using the 62.79 to new highs as our anchor.
https://www.screencast.com/t/emh1NPw4
Trade safely
