CL1! - Two possible scenarios for bull breakout.
First chart, thoughts on CL1!
Long term
Crude Oil is showing reversed H&S formation, furthermore CL1! [short term] is in two wedges.Seems like a matter of time before the bull breakout will occur.
Short term
My prediction is that we will break the smaller wedge and fall to approximately ~57,68. The 4h (and up) chart is indicating the bears took over the market, and seemingly will continue to do so. I am currently short from 60,4
NOTE: This chart shows my perspective on the possible scenarios on oil. These are merely ideas provided for public opinions/discussions. Trade cautiously.
Regards,
GM
Long term
Crude Oil is showing reversed H&S formation, furthermore CL1! [short term] is in two wedges.Seems like a matter of time before the bull breakout will occur.
Short term
My prediction is that we will break the smaller wedge and fall to approximately ~57,68. The 4h (and up) chart is indicating the bears took over the market, and seemingly will continue to do so. I am currently short from 60,4
NOTE: This chart shows my perspective on the possible scenarios on oil. These are merely ideas provided for public opinions/discussions. Trade cautiously.
Regards,
GM
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