Crude Oil - Intraday - We look to Buy at 55.25 (stop at 54.50)
A bullish reverse Head and Shoulders has formed. Neckline comes in at 55.25. The formation has a measured move target of 60.40. We look for a temporary move higher. Preferred trade is to buy on dips. Further buying is expected to follow with the hourly Ichimoku cloud and our bespoke support (55.21) offering incentive.