WTI CRUDE OIL LONG with short retracement first

Daily Chart: WTI Crude has been in a tighter range since June approximately and have pushed up from the lover bounds of this range early October. This move is approaching the MA200 and I predict a reaction there since it is in oversold territory on the Stochastic. A retracement down to MA100 wich coincide with the Fib 78.6% level is most likely. This level will when act as support for a bounce up to the upper bounds of the range.