analitykFX
Long

OIL - strong weekly reversal signal

NYMEX:CL1!   Light Crude Oil Futures
255 2 6
Cadles formed reversal formation ( morning star ) on the weekly chart so signal is strong. Also the SHS             formation which I predicted in my earlier analys here:
OIL - wait for long positions
should easily take price to 60.00 $

Just wait for correction to enter. We have small uptrend on H4 chart so try to buy close to the bottom line:
snapshot
Comment: 60$ level still in play. So all we have to do is wait :)
What's the deepest correction lower you see could happen?
Reply
analitykFX tbuckle
In my opinion between 42,20 - 41,40 is the best possible price you can get . But if price respects and stay in trend channel it's gonna be higher (42.30 in best case):
snapshot


SL 41,97 or 41,37 (extreme)
I will add an update anyway for sure.
Reply
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