GMolenkamp
Long

CL1! - Two possible scenarios for bull breakout.

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
First chart, thoughts on CL1!

Long term
Crude Oil             is showing reversed H&S formation, furthermore CL1!             is in two wedges.Seems like a matter of time before the bull breakout will occur.

Short term
My prediction is that we will break the smaller wedge and fall to approximately ~57,68. The 4h (and up) chart is indicating the bears took over the market, and seemingly will continue to do so. I am currently short from 60,4

NOTE: This chart shows my perspective on the possible scenarios on oil             . These are merely ideas provided for public opinions/discussions. Trade cautiously.

Regards,

GM            
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out