goodguy

Update on crude oil: Correction about over?

FX:USOIL   Crude Oil (WTI)
43 1 1
A couple of weeks I posted and suggested the correction from the recent rise from 37.73 may well be a deep one to .78% or even back to crude oil             price of 37.7 to possible form a double bottom. IFFF the channels I have drawn are of any importance then we have a potential confluence of lines near the .786 level (lower black horizontal dotted line) which may provide support.
For myself I would like to see a positive candle formation in the daily chart and a break of the short term down trend line on the 120 minute chart before going long. Take care. Have a great weekend.
Good call, goodguy!
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