FXHighway
Long

Crude Oil confirms the breach

NYMEX:CL1!   Light Crude Oil Futures
62 0 1
Target: 67.00
Risk: 56.20

Technical Reasons:

Crude oil             price succeeded to breach 57.48 level and closed the daily candlestick above it, to get strong positive factor that supports targeting the next correctional level at 67.04.

The exponential moving averages 50 and 100 provide good positive support to the bullish wave, and trading continues organized inside the ascending channel that carries the price from the recently recorded low at 42.03.


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