TradingView
ChargingBull
Feb 24, 2016 9:43 PM

CL1! Long short-term set up BULL FLAG STRATEGY Long

NYMEX:CL1!1D
Crude Oil FuturesNYMEX

Description

⋅
Hey all hope you are having a good evening. We see a upside from here in oil, definitely in the short term. We have a beautiful bull flag forming on the daily. We have surpassed the support in the Volume-Price action in the 30.23-32.23 area. The bull flag is resting on the bearish trendline. If we don't breakout tomorrow we will continue in that bull-flag channel. Estimating ~6% move up or down. Invest wisely.
OilCrude Oil Futures WTI (CL1!)UWTI
Comments
tbuckle
⋅
are you worried about the inverse daily hammer?
ChargingBull
⋅
No I am not. It is the consolidation. I will post a new chart later explaining why.
tbuckle
⋅
Thank you I look forward to it. What's the lowest you think we can go from here?
ChargingBull
⋅
Technically ~26/barrel if we hit a bottom bottom. Short term 32/barrel and some basis points. I have published a new chart here:
tbuckle
⋅
After today/Fridays price action do you think upside still exists strongly or is the move finished?
ChargingBull
⋅
The upside still strongly exists. The move has not finished. We are consolidating; more to come.
AMBRISH
⋅
brake out target 6 % from 30.23 ?
ChargingBull
⋅
From Wednesdays close.~32.27, 5 day target (including weekends).
AMBRISH
⋅
thanks.
ChargingBull
⋅
We hit an arbitrary Fibonacci level at 11:00 EST @~31/barrel.
More