Crude oil, long after pullback!
hi guys i started to trade futures too. short idea of crude oil, clz2019.
i longed it from 53.7 and sold it 55.5.
crude oil's daily macd, rsi is all good for a rise. currently in rising channel. buy at 53.4~54.8 area, and target 56.5.
it basically shows h&s format, which would not exceed 60. i think top is 56~59 area for next few weeks.
monthly wise, it is still ongoing its retracement. now the fractal looks like a descending triangle, which would eventually
break down to 40 area, also with the monthly red cloud it is still in bearish zone. i think after that there would be a rise.
so entry point is where you buy on the channel top, that the price surpassed, also where 1hr baseline and cloud support is.
good to buy. lets see what happens. target 56.5 area, and 58 for the top.
regards
i longed it from 53.7 and sold it 55.5.
crude oil's daily macd, rsi is all good for a rise. currently in rising channel. buy at 53.4~54.8 area, and target 56.5.
it basically shows h&s format, which would not exceed 60. i think top is 56~59 area for next few weeks.
monthly wise, it is still ongoing its retracement. now the fractal looks like a descending triangle, which would eventually
break down to 40 area, also with the monthly red cloud it is still in bearish zone. i think after that there would be a rise.
so entry point is where you buy on the channel top, that the price surpassed, also where 1hr baseline and cloud support is.
good to buy. lets see what happens. target 56.5 area, and 58 for the top.
regards
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