Let It Break decisively. Till then you can take advantages of intra-day short ranges. But do that with strict risk management. Finally the pattern at present looks Bullish, BUT it can go either way. Because on the flip side of it - COT reports are Bearish, open interest is at record high and Commercials are record short(more than they were at 2014 drop from...
Still Playing between the two Levels & DIRECTIONLESS Until it breaks either level convincingly, look for small and short term trades on lower time frames. I will personally have a short side bias.
I am planning to short Crude oil if it breaks down in the evening US session, using lower timeframes for entry. Nice Risk Reward
Each Levels here act as support and resistant and vice versa so wait for an Breakout or Breakdown of the above levels for entering a trade. Buy Levels-52.25/52.83/53.77 Sell Levele-53.77/53.39/52.25
Both the Levels STILL Holding Nicely. Have Patience
Cl1 will give a short breakout Below 53.54 it can go to the level Downside level- 52.90 upside safe level- 54.07
USOIL looking out to break the strong resistance of 51.65 level. Once if the price break the 51.65 level the further uptrend may come upto 61.15 level. It's a short term recommendation. Trade: Buy above = 51.70 Target 1 = 56.60 Target 2 = 61.05 Stop Loss = 45.00 Total Reward Points = 9.35 Risk Points = 6.7
CL1 had given a big long breakout out of multi tops.. Watch it out above 52.85, Above 52.85 it will confirm the breakout and can move upwards. Upwards level till 54.85/56.40/61.20.... Downward level to watch as a safety line can be kept at 51.50...
I will Favour Shorts Below 49.50 and Longs above 54.50 with bias towards Shorts Happy Trading and Happy Christmas.
CL1 is giving a short breakout below 52.95, below 52.95 it can go to the level 52.20/51.95/51.30 if do not break the level 53.50 on upside.
CL1 is giving a short breakout below 50.75 for the downside level till 50/49.60 if do not break the level 51.36 on the upside.