ideas52
Long

CRUDE OIL In a BUYING ZONE

NYMEX:CL1!   Light Crude Oil Futures
116 2 7
Minimum Pull Back upto 44.80 - 45.40 area
What do you base this theory on? ....just that you have constructed a channel based on two points, the later one of which can change at any point?
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ideas52 tbuckle
No. Channel is a basically observation. Crude Oil Trading technically in nowadays.. So fibo studies is to follow.. Currently cycle is over and correction expected which is 38.2% - 61.8% is short picture.
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