Trader1N

Price want to break back up, but not sure there is enough force

NYMEX:CL1!   Light Crude Oil Futures
We've broke an important trendline back in 2015. So far the recent upswings seems more like a mere correction for an impulsive move downwards in the longer run. There is a lot of resistance just above now at 50-52, so be careful with your longs, -still if OPEC reaches a deal today. Look at the increasing volume as well since the downward movement started summer 2014.
Comment:
snapshot


Pushing on the monthly trendline now
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