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ChristopherCarrollSmith

Crude oil headwinds may sustain upward channel for a while

Long
CFDs on Crude Oil (WTI) (FX:USOIL)  
ChristopherCarrollSmith Updated   
FX:USOIL   CFDs on Crude Oil (WTI)
Parallel Channel Support and Resistance Crude Oil Crude Oil WTI inventory
8
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parallelchannel supportandresistance crudeoil usoil inventory
With rising tensions in the Middle East and a large crude oil inventory draw yesterday, we're looking likely to stay in an upward parallel channel that formed in the last couple weeks. We may get a pullback the rest of today due to resistance, but tomorrow we should be up again. As always, keep your stops below the channel and move them up each day.
Comment:
I meant tailwinds in the chart title. XD

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ChristopherCarrollSmith
Oil parallel channel
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