CL Daily Chart and range bound area
The Daily chart shows the first corrective impulse lower from the highs and the ensuing consolidation which is visible
The target's from the weekly chart are still visible and need a close above $66/$83 to push into the draw boxes otherwise its more of the same within the range
i will post a 4 hourly chart see if we can dig deeper.
remember this is just wave analysis and price action and susceptible all the jaw boning that exists in the CL markets.
The target's from the weekly chart are still visible and need a close above $66/$83 to push into the draw boxes otherwise its more of the same within the range
i will post a 4 hourly chart see if we can dig deeper.
remember this is just wave analysis and price action and susceptible all the jaw boning that exists in the CL markets.
Comment:
Nothing changed playing out as indicated the immediate trend suggests the test towards $83.00 short term bottom i think is in below $68.00
Comment:
Broadly the song remains the same still trapped in the 66.52/83.12 range with no breakout in sight. So sell towards $83.00 and but under $70 remains the best play until we get clearer insight on the market.
Mark Langley