"CL - Energy building?" by trader forker — published October 20, 2015

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Light Crude Oil Futures (NYMEX:CL1!)

NYMEX:CL1! Light Crude Oil Futures

CL Crude Oil FORK forker priceaction medianlines actionreaction newton babson Andrew's Pitchfork

cl crudeoil fork forker priceaction medianlines actionreaction newton babson andrewspitchfork

Everytime i see such coils, i think of somebody who has a "job" to do...
The projected upside explosion would meet exactly the BRK point.

I only think about long when price is closing above the Centerline.

P!

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Price is really holding the MPL Centre Line ( Uppward Black Dotted Line ). I also see the Coil 1st building between the two apposing CL's creating a wedge & then the Zoom Bar & the pull back.....all in all with higher bottoms...Good case for a big uoward breakout! Nice chart!

Timing is key

Exactly, breakout trades need a coiling process first.
This has run its course, might be ready soon.

If we get your pattern's first big bar, sure thing.

Nice analysis. I have similar view, especially if it closes above 51.00
Two major factors will come in to play: 1) $DXY 2) Inventory builds.

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