Retracement and higher high on CL?
We successfully broke the weekly trend line and right now we are at the daily sell zone. I would like to see some retracement and then a higher high to around 83 area.
Also, we crossed the 200 EMA on the daily timeframe which is a strong trend reversal signal.
Entry - 77.5-78 (I would wait for a retracement to this level to go long. We can enter early around 78.5 if you do not want to miss the move.)
Stop - 76.85 ( I would like to see a daily close below this level )
First target - 80
Second target - 82
Final target - 83
Please let me know your inputs. Happy trading!
Also, we crossed the 200 EMA on the daily timeframe which is a strong trend reversal signal.
Entry - 77.5-78 (I would wait for a retracement to this level to go long. We can enter early around 78.5 if you do not want to miss the move.)
Stop - 76.85 ( I would like to see a daily close below this level )
First target - 80
Second target - 82
Final target - 83
Please let me know your inputs. Happy trading!
Comment:
Still waiting for a retracement for another higher push but looks like CL has other plans :-D