NYMEX:CL1!   Light Crude Oil Futures
CRUDE UPDATE. After a couple more days of consolidating Crude is looking to make a move. We still like the upside for a short cover rally but we've been around long enough to know nothing works out perfect. Crude can fake you out quickly so here are two scenarios that could play out and we are watching.

1. Price blows through the upside wedge . We would be a buyer on the pause or small pullback. Keep it tight

2. Price blows through the bottom of the wedge ...takes out stops (weak longs) and retreats back into the wedge . If this happens we will get long back above 55.00 because they will squeeze the late comers. This is common and it's important that you understand how machines and commercial paper use YOUR STOPS to fill their orders.

3. I should mention if price blows through the bottom and keeps going we won't touch it.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out