I think Crude oil has a good correction but is greatly affected by the fundamentals.
From the trends as I mentioned in the chart, its seems to has finished a healthy correction and will launch high soon.
I will wait a bit to open a new position as it may go till 45 mark but looking at the big picture, its bullish for me.
Will wait and see
Best of luck.
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Need more patience till the completion of the correction phase. I think it will go till 45.50
Trade active
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After almost touching the 45.5 point, We are on our way Up. Its going according to the plan. I think we will be seeing a new high. The perfect entry point for this was around 46. I have missed it :( But i wont be entering at this point as it will be too risky. Hopefully some of you have got the high wave.
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Look out for a retracement at 48.40 point. Its a strong resistance point. If you have a big position then better to sell out and buy again at the lower point which will be around 47.5 point Best of luck
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We are at a tricky price point now- Be very careful I have closed half of the position now Will wait to see if the retracement take place
Trade closed: target reached
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Closed 25 % more. Moved the stoploss of the rest to breakeven. This trade setup is almost complete Hope you have made some money :)
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I have been talking about this fall for a while now :) It presented a great buying oppurtunity now I will be making a new chart for it soon :)