AndreasMunz

Bullish but slowing down; Target 50, then sideways

NYMEX:CL1!   Light Crude Oil Futures
Expect the bullish trend we are in to slow down as we run into resistance areas
Upward sloping support line active.

Look for 9 day and 20 day MA as target for pullbacks
Comment: Target nearly achieved. Market has since come off into the 47s.

Downside target of 9 day MA around 47. If that is breached look for the 20 day MA and the red trendline as support.

I would expect a test of either in the coming days before returning to the prevailing trend
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