coondawg71
Long

Crude Oil bouncing off short term support, caught in a Wedge

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
54 0 2
Even though price is bouncing off short term support of 92.00 handle and a Long Term trend line the overall trend remains bearish as late as this past June 25. Short term price could appreciate to the 0.239 Fib Extension level of 96.17. A break of price panel trend line breakout of the wedge and/or breakout of Awesome Oscillator wedge will provide further guidance in the weeks to come.

((Make It Mine, change price bars to Renko, trend lines are based on Renko trend changes))
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