Wait for the formation to break before making any trades. That said, it does look like Oil is setting up to trade higher. Maybe as high as the recent swing highs?
Comment:
Looks like the breakout is finally on. Let's give it some time and see how far it goes.
Comment:
Bit of a disappointing close on Friday, well off the highs, but still comfortably above the breakout level. So, we hold long for now.
Comment:
Looks like the breakout is here. If oil proper runs, it might hurt equities. Stay long here. Consider other energy stocks and oil plays to be long as well,
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