We continue to hold our long Crude view, as we are pressuring 67.00 this morning again and look poised to break through it. THe rise has been volatile so also trail stop/scale out here as a precautionary measure.
Sell Warning: That is a rising wedge under development.
1. Look for a top circa 67.15-.20 and short a bearish bar; or
2. Short any breech close bar of lower rising support circa 66.70.
3. Stop +/- .15 above entry for 1. or +/-.20 above entry for 2
Target 65.00
You can unravel your short(s) on this trip at your own comfort levels or pm me for help
R:R is approx 1.70 : 0.20 or 8+:1 Nice
... just my 2c worth
1. Look for a top circa 67.15-.20 and short a bearish bar; or
2. Short any breech close bar of lower rising support circa 66.70.
3. Stop +/- .15 above entry for 1. or +/-.20 above entry for 2
Target 65.00
You can unravel your short(s) on this trip at your own comfort levels or pm me for help
R:R is approx 1.70 : 0.20 or 8+:1 Nice
... just my 2c worth