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42 is the bottom of the Crude Oil WTI, 62.44 is the next goal

42 is the bottom of the Crude Oil WTI, 62.44 is the next goal

Crude Oil WTI NYMEX:CL1!

Above is the month chart of WTI with log scale price. We can see the fibonacci retrace level from 9.75$ to 147.27$. The 0.764 position is 42$. This is a signal of the bottom of WTI at the moment. Another indication is the Gan fans from 33.2$ at 2009, the 42$ is at 8/1 angle. The next resistance level will be near 62.44$.