Crude oil futures (CL) is exhibiting head and shoulders bottom formation on the 4h chart. The price has broken out of the neckline.
It is best to wait for a retracement followed by continuation before initiating long positions. Measured move target: $78.20.
It is best to wait for a retracement followed by continuation before initiating long positions. Measured move target: $78.20.
Comment:
No long entry as price broke down below resistance zone without giving long entry.