Crude Oil - Intraday - We look to Buy
Trading within a Corrective Channel formation.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
We expect a reversal in this move.
Bespoke support is located at 39.92.
Preferred trade is to buy on dips.
Our profit targets will be 40.75 and 41.29
Resistance: 40.75 / 41.29 / 41.72
Support: 39.92 / 39.51 / 38.90
Trading within a Corrective Channel formation.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
We expect a reversal in this move.
Bespoke support is located at 39.92.
Preferred trade is to buy on dips.
Our profit targets will be 40.75 and 41.29
Resistance: 40.75 / 41.29 / 41.72
Support: 39.92 / 39.51 / 38.90
Comment:
Take profit of $40.75 has been hit! Now we are targeting a TP of $41.29
Trade closed: target reached:
Take profit of $41.29 has been reached!
