Oil has reacted to that monthly demand zone and I think we are headed towards 59.89 as the next upside target.
Ideally I would like price to retrace towards that weekly open to look for longs. But momentum is currently so strong it might not even trade there before it gets to my target
Oil is approaching an area of resistance that could potentially cause it to stall and reverse to the area where I would like to go long. I like that area because it is also in confluence with the weekly open. If we get a daily candle close within that supply zone above and no signs of bearish PA then we are definitely going to hit that 58.90 level.
