Crude Oil - Intraday - We look to Buy
Trading within a Corrective Channel formation.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
We expect a reversal in this move.
Bespoke support is located at 39.92.
Preferred trade is to buy on dips.
Our profit targets will be 40.75 and 41.29
Resistance: 40.75 / 41.29 / 41.72
Support: 39.92 / 39.51 / 38.90
Trading within a Corrective Channel formation.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
We expect a reversal in this move.
Bespoke support is located at 39.92.
Preferred trade is to buy on dips.
Our profit targets will be 40.75 and 41.29
Resistance: 40.75 / 41.29 / 41.72
Support: 39.92 / 39.51 / 38.90
Note
Take profit of $40.75 has been hit! Now we are targeting a TP of $41.29Trade closed: target reached
Take profit of $41.29 has been reached!
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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.
Related publications
Disclaimer
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.