Light Crude Oil FuturesUpdated CL.One up, two down
We hit the 54.60 level and since then have been playing tease. I suspect this might be the beginning o a series of 1's and 2's and if that be the case I am expecting another failure around 53.56 area which is likely to be sold to the 48.80 level. The level from 50-54.5 has had considerable amount of back and forth from December. I suspect a move out of this area is nigh at this moment I am unsure which way it is likely to break.
Note
Well. we did not quite get to 48 but quite the move to symm resistance at 55.09.. One up , 2 down is still the mantra. Perhaps, we try for 55.86 and above. I would not hold my hat out just as yet. I find this move a bit suspect and am willing to be proven wrong.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.