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Zoen_Trieste

CLQO: Up by 100%! What's next?

Crude Oil Futures (Aug 2020) (NYMEX:CLQ2020)  
Zoen_Trieste Updated   
NYMEX:CLQ2020   Crude Oil Futures (Aug 2020)
Gann Box Supply and Demand Economic Cycles gannanalysis Oil oiltrading oilforecast oilprice oilfutures oilsignals oilwti
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Further to the earlier idea related to CLQ2020 contract in which there was a 100% up projection within certain time, it is now established that this contract traded the 100% up area from its YTD low, and that it is currently working the offers at this key zone. The sudden downside for long exposure that we saw earlier on today is most likely an effect of traders squaring off long exposure via profit booking. If aggressive bears are unable to gain momentum in this key area, the buy stops will surely increase the counter momentum. Staying tuned in for more.
Comment:
CLQ0 8H Update
snapshot
Turning the plus 100% area from YTD low into support is signal a higher market towards the 150% area during the upcoming couple of months.

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