Crude Oil has recovered price from the flash crash in April 2020 to be around $ 42 .
Price has consolidated recently in the zone between $37 - $ 42 , which represents the March 2020 Gap Down.
A breakout of this consolidation to the upside is considered as part of a long bias ( 20 MAV > 50 MAV , and price supported by 20 MAV)
1. Enter long on present bar
2. Target - 3 considered $49, $55, $65.
3. Stop - below recent consolidation
4. RR = 2-4.
Price has consolidated recently in the zone between $37 - $ 42 , which represents the March 2020 Gap Down.
A breakout of this consolidation to the upside is considered as part of a long bias ( 20 MAV > 50 MAV , and price supported by 20 MAV)
1. Enter long on present bar
2. Target - 3 considered $49, $55, $65.
3. Stop - below recent consolidation
4. RR = 2-4.