Head & Shoulders in Crude Oil
Updated
Crude oil futures (CL) is exhibiting head and shoulders bottom formation on the 4h chart. The price has broken out of the neckline.
It is best to wait for a retracement followed by continuation before initiating long positions. Measured move target: $78.20.
It is best to wait for a retracement followed by continuation before initiating long positions. Measured move target: $78.20.
Note
No long entry as price broke down below resistance zone without giving long entry.
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