Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here
Crude Oil – Buying opportunity setting up in Crude Oil
In the weekly Crude Oil chart below, we can see price exploded higher last week after briefly testing $45.00 support. Bulls are clearly back in control of this market and we are looking to get long whilst price is above $43.10 major weekly support, to trade in-line with the bullish momentum. We are looking for a pullback to value and / or a price action buy signal to confirm a long entry into this market. There’s upside potential back up to $52.00 key resistance area. As always, trade at your own risk.
Want More Trade Setups Analysis ? In the members’ daily trade setups newsletter we discuss potential trade setups and provide detailed chart analysis on Currency Pairs, Commodities, Stock Indices and more. For more information click here.