Crude Oil view: Channel trade set up

Observations from the chart

- WTI Crude trading in up trend channel since last 1 month

- 20 day EMA crossover above 50 day EMA and 200 day EMA

- 50 day EMA crossover above 200 day EMA



Based on the observations we feel:

WTI Crude to be in positive territory &

If channel trade is to continue there seems to be good opportunity to go long for target of 54-55 with stop below 48.50 on closing basis


Take care & safe trading...!!!

Regards

Indiamarketoutlook

Trade closed: target reached:

WTI Crude
CMP 57.16

Channel trade is complete

Here's updated chart

Happy trading...!!!