Crude Oil Readying for Another Push Higher
Crude Oil appears to be setting up for another run up in a continuation of its rally since the fourth quarter route of last year.
A Minor Pivot Stack is in place, but the price will need to confirm strength on a move through yesterday's high first.
Then the Pivot Stack should provide a much more convincing support level.
Go long if the price trades through 54.18 and place a stop loss at 52.22 with a profit target of 57.37
Use the March 2019 contract, symbol CLH2019, on the ICE Futures exchange with any NFA registered U.S. futures broker, both regulated by the U.S. Commodity Futures Trading Commission.
Be prepared to roll the contract over to the next month, the April contract, symbol CLJ2019, in about a week, if the trade is active.
A Minor Pivot Stack is in place, but the price will need to confirm strength on a move through yesterday's high first.
Then the Pivot Stack should provide a much more convincing support level.
Go long if the price trades through 54.18 and place a stop loss at 52.22 with a profit target of 57.37
Use the March 2019 contract, symbol CLH2019, on the ICE Futures exchange with any NFA registered U.S. futures broker, both regulated by the U.S. Commodity Futures Trading Commission.
Be prepared to roll the contract over to the next month, the April contract, symbol CLJ2019, in about a week, if the trade is active.
Comment:
The market has moved nicely up for good profit. Now would be the time to roll your contract into the next month of April. Sell your March contract and simultaneously buy the April contract, symbol clj2019.
Trade closed: target reached:
If you rolled your contract then the corresponding profit target for the April contract should also been hit.