Possible Bullish Opportunity for CL
The market price had a huge breakout to a previous resistance level on the daily time frame. The market then proceeded to retrace back to the current trend line on the daily timeframe.
As long as the market price can stay above the overall support level and CONFIRM, along with stay above the BLUE trendline on the daily timeframe, there may be an entry opportunity. Once again, I think its a good idea to wait for the market prices to CLOSE in the proper zones for added confirmation instead of just letting the market BREAK into the appropriate zone.
Stop Loss: 55.76
Profit Objective: 100.22
Entry is possible once the market confirms with the proper zones.
This idea is for educational purposes only and the decision for entry and/or exit into a position is strictly up to the individual.
As long as the market price can stay above the overall support level and CONFIRM, along with stay above the BLUE trendline on the daily timeframe, there may be an entry opportunity. Once again, I think its a good idea to wait for the market prices to CLOSE in the proper zones for added confirmation instead of just letting the market BREAK into the appropriate zone.
Stop Loss: 55.76
Profit Objective: 100.22
Entry is possible once the market confirms with the proper zones.
This idea is for educational purposes only and the decision for entry and/or exit into a position is strictly up to the individual.