krilin89

Here's my BFF (Bear Flag Fail)

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
Everyone seems to be talking about channels, consolidating, retracing, etc. I've been hearing this since the initial uptrend that started on 1/29. Ever since, it has reached $54, four times, with the last one being out of the "flag" (or penflag since it's a bit of both), and it has since been staying above the 10MA and 50MA. Of course this can just be a bull trap. A clear break above $54 will be bullish , with buying commencing at $55.

More concrete             confirmations will be done in early May, whereby I expect the 120MA to hit $54
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