Crude Oil BUY setup

Crude Oil has formed inverted head and shoulders a breakout can be expected above $49.5

T1: $51
T2: $53.5
T3: $55
T4: $57

SL: $47

Comment:

Crude oil near the neckline. Is it going to break the neckline?

Comment:

Aggressive traders can go long now.
Conservative traders can wait to go long above $49.5

Trade active

Trade active:

Any pull back upto $49 can be seen as a buying opportunity

Comment:

Made a high of 50.65 so far.
Close to out T1: $51

Trade active

Trade closed: target reached:

T1: $51 achieved

Comment:

Conservative traders can exit COMPLETE position at CMP $51.65 as it it now facing the old trend line resistance. We will re-enter the trade upon this trend line resistance breakout.

Aggressive traders can continue to hold their BUY position trailing SL to cost aiming for our T2: $53.5

Regards,
tRex
Jurassic Park

Comment:

Conservative traders can re enter at CMP ($52.10) and on dips up to $51.5

Comment:

Trailing SL to cost ($49.5)

Trade closed: target reached:

T2: $53.5 achieved

Trade closed: target reached:

T3: $55 achieved

Trade closed: target reached:

T4: $57 achieved
ALL TARGETS DONE