Price in the triangle should hold, but if it brings out to the upside, I see 62.50, 63.00, 63.50 as psych levels and as resistance and support, respectively. It won't take too much good news to propel this 50+ ticks at a time, given the long-term upside for CL1!.
Waiting for a new formation upward to coincide with the end of maintenance season and I see price discovery sending CL1! higher but on higher volume. For intraday traders, I would stick with the VWAP as a good indicator of entry points.
Waiting for a new formation upward to coincide with the end of maintenance season and I see price discovery sending CL1! higher but on higher volume. For intraday traders, I would stick with the VWAP as a good indicator of entry points.