JabezZinabu
Long

CL Daily analysis 10-13-16

NYMEX:CL1!   Light Crude Oil Futures
Head and Shoulders technical pattern + break of 2 year trend resistance = long bias
Watching for a pullback off the double top , keeping eye on 50% Fibonacci retracement which is also the 2 year profile POC , for potential reversal zone.
Comment: Long view should change to neutral, we're waiting to see if price breaks resistance or fails at current resistance level.
For those of us less educated you are looking to go long around what price?
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I'll change to neutral view, but if price doesn't break the current resistance and turns around im watching the $49 support area as well as $46 (50% Fibonacci level) as potential pullback zones.
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