Oil on a strong move as mentioned one should be coming and now doing a formation of a flag that could provide a further move higher. Inside the red zone are 2 of our prior support and resistance lines(blue) and figured i would leave them on the chart today.
I will be looking for a pull back down that I will be watching to see if it holds so I can get long, this might be a trade that goes past a day trade.
I will be looking for a pull back down that I will be watching to see if it holds so I can get long, this might be a trade that goes past a day trade.
Trade active:
there are 2 possible ideas here long on break above 56.36 or long on a pull back to top of red zone. both ideas I would use the same stop of about 55.90