look4edge

CL- diagonal picture

NYMEX:CL1!   Light Crude Oil Futures
Sliding down along parallels, from line to line, currently in range.
Looking back found reason for tremendous 25 pct shortcovering - red circle at A/R x channel floor.
7/8 parallel has been recently bought too...
Above 47 test of 6/8 parallel around 47/48 possible, below 51 shorts favoured.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.