Crude oil: Go long above today's high

NYMEX:CL1!   Light Crude Oil Futures
1310 24 39
After the crude oil             inventories news came out, we observed a drop under the weekly mode in crude, but rather fast, it found support and buyers stepped in, creating a hammer candle pattern.
This is considerably bullish , and to add insult to injury, price was supported right above the highest volume node, while rgmov is in a daily uptrend. Buying over this high in an oversold dip is common sense to me here, specially after it discounted the news like that.

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Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
Comment: Last daily close denotes indecision...a move above it today will be great for the bulls.
Trade closed: stop reached: Stop hit, the stop and reverse comes in effect.


Comment: CME futs continuous contract:

Comment: Sorry, wrong clipboard data!

Assuming a 19 percent target move off a candle that wasn't even closed yet... What?