Crude Oil (CL Daily) – Is it a consolidation time?
President Trump was looking for lower prices of oil and here we go, a perfect timing!
No doubt, the bears are under control but today’s price action (would like to see the daily close) suggests we may enter a consolidation phase between 61.50 / 62.00 and 64.30 / 64.80. We are within so called “No man’s land” here and only a breakout or clear break down may show us further direction. We do expect bulls to try take out the top of the channel, but it might not be enough.
Should you have any questions feel free to contact us anytime.
Good luck Champs!
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