themarketzone

Update - Monthly pattern challenged, daily Crab may support

NYMEX:CL1!   Light Crude Oil Futures
106 0 0
Update on my Crude Oil             analysis:
Right now, the monthly Bat pattern mentioned in my previous Oil             analyses has been violated but the continuous decline in Oil             prices...
However, since we are talking about a monthly chart - The month isn't over yet... only a monthly close will determine whether the pattern will remain valid or not.
In addition to the monthly Bat, we now have daily Crab pattern (completion near 30$).
In the chart I'm showing two potential swing/longer term trading opportunities that offers at least R/R of 2.

Tomer, The MarketZone.net

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