Bottom pattern on Crude Oil Long

Crude Oil FuturesNYMEX

Description

⋅ Apr 1, 2015 11:40 AM

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

Crude Oil Futures WTI (CL1!)

Comments

Realisto_FX

⋅ Apr 15, 2015 5:05 AM

UPDATE : I reduced exposure and move stop to 52

Realisto_FX

⋅ Apr 7, 2015 7:44 PM

UPDATE : I move stop to 49 to lock in profits, and see how reacts to current supply zone around 53-54

AMBRISH

⋅ Apr 8, 2015 4:55 PM

THANKS FOR STOP UPDATE.

Realisto_FX

⋅ Apr 8, 2015 5:03 PM

Welcome

AMBRISH

⋅ Apr 1, 2015 3:14 PM

THANKS FOR CHART BUT I AM UNABLE TO READ IT CLEARLY.

Realisto_FX

⋅ Apr 1, 2015 3:21 PM

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

CoinedByCrypto

⋅ Apr 1, 2015 3:31 PM

If break of top resistance 60 could be in the cards

AMBRISH

⋅ Apr 1, 2015 3:54 PM

Hi Jpocalles,
thanks for clarification, i really appreciate, i am short at 48.50.

Realisto_FX

⋅ Apr 1, 2015 4:00 PM

Ok good luck to all of us.

Regards

Josep

AMBRISH

⋅ Apr 1, 2015 4:10 PM

THANKS , HAPPY LUCKY GO.........