Light Crde Oil ( CL1!, US Oil ).... BULLISH
As I mentioned in the Weekly Outlook video, I expected the fair value gap + the bullish breaker block to hold price, and provide support for a potential rally. It chopped since Tuesday, but we've seen the bulls come in and slowly start to move price higher.
I expect that price will continue that move today.
I am looking for price to pullback a bit, after taking the yesterday's high. I should pullback halfway into Thur's candle, and push higher towards the highlighted draw on LQ (red line).
If it doesn't happen today, then I look towards the beginning of next week for it to play out.
May profits be upon you.
I expect that price will continue that move today.
I am looking for price to pullback a bit, after taking the yesterday's high. I should pullback halfway into Thur's candle, and push higher towards the highlighted draw on LQ (red line).
If it doesn't happen today, then I look towards the beginning of next week for it to play out.
May profits be upon you.
Comment:
We had a good reaction off of the demand zone. It resumes its quest fo rLQ towards the highs.
It also went about halfway into the PDH's candle, as mentioned.
Next week, the rest of the analysis should play out.
We'll see.
May profits be upon you.