aslamhammad
Long

Crude Oil WTI Quarter view

NYMEX:CL1!   Light Crude Oil Futures
626 0 7
Well i'm expecting price to break above 62$ (which is 200day moving average area)....If price closes above it should rise upto 70$ by August-September. If price fails to close above it, than we can expect consolidation in the daily chart back to 55$ a barrel. So, you'll need to either wait to buy it at 55$ or you can buy it with a pending around 62$. You'll have to use low leverage for this pair....Also some brokers have rollover expiration of this pair....So, i would recommend a buy above 62$ level :), as i think we'll have a good support above that price :).
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