Final Leg down will take price down towards $52 below.
Both the Levels STILL Holding Nicely. Have Patience
Cl1 will give a short breakout Below 53.54 it can go to the level Downside level- 52.90 upside safe level- 54.07
CL1 had given a big long breakout out of multi tops.. Watch it out above 52.85, Above 52.85 it will confirm the breakout and can move upwards. Upwards level till 54.85/56.40/61.20.... Downward level to watch as a safety line can be kept at 51.50...
I will Favour Shorts Below 49.50 and Longs above 54.50 with bias towards Shorts Happy Trading and Happy Christmas.
CL1 is giving a short breakout below 52.95, below 52.95 it can go to the level 52.20/51.95/51.30 if do not break the level 53.50 on upside.
CL1 is giving a short breakout below 50.75 for the downside level till 50/49.60 if do not break the level 51.36 on the upside.
Gap UP on Monday, Distribution and the kind of price action of last 2 Days, I am staying away from this market for the time being. i will be interested in going long only between 55-60 Level.
Crude Oil Again Testing the Crucial 50-52 Zone/Area. If it fails to break UP here, it could well be formation of Triple TOP. With COT Commercials Starting to turn Weak this may well happen. But i am not in a hurry to Jump to Conclusions. I will be interested in this market ONLY if Either it starts closing above 52 on Daily Charts (For LONG) OR it Starts closing...
Cl1 is giving a long breakout.....Above 51.12 it can upwards to the level 51.65/52.10 if do not break 50.74 on downside.
From previous update- was likely looking for a bounce - got the bounce to 48-49$ & In the last trading session- Oil gave the big red candle & going below 45$- shall be looking for downside first in the zone 42-41$ Related Analysis Attached below
My advice is to stay away from this market for the time being.
CL1 is on short side as per the chart. CL1 short as close as near to 47.60, it can fall to 47/46.70/46.40...
CL1 can give hort breakout below again below at tomorrow level 47.70...Below 47.70 it can go to 47.40/47.20 if do not break 47.90 on upside.
CL1 watchout again, yesterday from 47.80 it made 49.20 till now and came back now again to that level @47.80. Now what? Now as CL1 is giving a negative breakout so if it breaks 47.70 then we can see a downfall upto 47.45/47.10, on the upside it should not break 47.90