Tag Archives: Weekly

Light Crude (CL1, Weekly) – Is there a reversal in crude or just a correction in downtrend?

Mr Hawk/ January 7, 2019/ Chart Of The Day, Charts Posts, Trade Idea, Trade Ideas Posts/ 0 comments

The first week of the year crude made an impressive come back although it did not manage to close above the key $50 level. Oil seems to be oversold and some short covering was necessary. The engulfing pattern on the weekly chart is a hint of possible reversal. Also MACD histogram is signalling weakening momentum as there is a hope

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