Realisto_FX
Long

Bottom pattern on Crude Oil

NYMEX:CL1!   Light Crude Oil Futures
Crude Oil             has retraced 50% from the last bullish impulse (from 42 to 52 area) . It could be forming a bottom pattern and ready to move up.

To confim we need daily close above 46
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UPDATE : I reduced exposure and move stop to 52
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UPDATE : I move stop to 49 to lock in profits, and see how reacts to current supply zone around 53-54
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AMBRISH Realisto_FX
THANKS FOR STOP UPDATE.
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Welcome
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THANKS FOR CHART BUT I AM UNABLE TO READ IT CLEARLY.
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Hi AmbyPatel, the basic message is I´m Long. The price experienced a 50% Fibo retracement from last bullish impulse : 42 to 52 . Price after my post seems confirming the bullish continuation outlook .

If it´s a head fake as BLawrenceM says, then stop will be hit @ 46

I hope it helps
+1 Reply
If break of top resistance 60 could be in the cards
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AMBRISH Realisto_FX
Hi Jpocalles,
thanks for clarification, i really appreciate, i am short at 48.50.
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Ok good luck to all of us.

Regards

Josep
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AMBRISH Realisto_FX
THANKS , HAPPY LUCKY GO.........
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