Trade_Setup
Long

Crude Oil continues to play out to plan

NYMEX:CL1!   Light Crude Oil Futures
Crude again pushed higher hitting the 56.50 zone so where to from here? Price did hit the target zone and has fully extended the secondary leg up (equal to the initial leg up) so may see some selling pressure enter on profit taking. For continuation higher we will need to see the 55.45 level hold and fresh buyers jump into the action. There is still a lot of room to move on the upside so price could extend a lot higher prior to a decent correction.

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