Crude Oil has formed inverted head and shoulders a breakout can be expected above $49.5
T1: $51 T2: $53.5 T3: $55 T4: $57
SL: $47
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Crude oil near the neckline. Is it going to break the neckline?
Comment
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Aggressive traders can go long now. Conservative traders can wait to go long above $49.5
Trade active
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Trade active
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Any pull back upto $49 can be seen as a buying opportunity
Comment
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Made a high of 50.65 so far. Close to out T1: $51
Trade active
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Trade closed: target reached
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T1: $51 achieved
Comment
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Conservative traders can exit COMPLETE position at CMP $51.65 as it it now facing the old trend line resistance. We will re-enter the trade upon this trend line resistance breakout.
Aggressive traders can continue to hold their BUY position trailing SL to cost aiming for our T2: $53.5
Regards, tRex Jurassic Park
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Conservative traders can re enter at CMP ($52.10) and on dips up to $51.5