ElPatron.Y
Long

Crude oil, now we finally know! I think..

NYMEX:CL1!   Light Crude Oil Futures
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We have crude oil trading in an uptrend, and found support at the rising trendline . From here I expect to retrace from last fall at least the 0.382-fib. From there it might retrace some before going up more.

A retrace from 0.5-fib is also possible, that would be the end of the retrace of the freefall. But untill we see clear fall I will be hedging from there and not closing long directly.

RSI also showing a falling wedge , a breakout is a serious up-move from here. I am long since 59 a bit late posting the idea. But I was waiting for opening price to share it with you guys.
That was an ugly drop!
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Still ranging...
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ElPatron.Y IvanLabrie
Good looking Ivan!
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