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Short

Double top and Trendline break

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
128 0 5
a month ago
Clear double top in CL             . Together with the daily trendline break, outlook is bearish in the medium term. Fundamentals are helping drive this move down, however that may change at any given moment. First support is around 42 (1st Fib) and then from 40-39 VVAL and 50% Fib. Vigilance is needed at these levels since around 45 is the VPOC which may act as a magnet
a month ago
Comment: CL1! broke yesterdays low, still bearish
a month ago
Comment: CL1! coming into first support
a month ago
Comment: OPEC Saudi comment drives prices up
24 days ago
Comment: Swing failure into first support. Could see some consolidation around 45 (VPOC) as discussed
23 days ago
Comment: Consolidation around 45. Should see accumulation (sideways action) around these levels before another move
21 days ago
Comment: Shorts need to be vigilant as USOIL PA is looking like a bull flag
21 days ago
Comment: Novak comments on possible oil output freeze. Fundamentals take the lead
Disclaimer: Ideas and reports for educational purposes only. Not investment advice.

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