Title: Crude Oil Futures ( CL1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 81.06
Pivot: 73.40
Support: 74.33
Preferred case: Looking at the H4 chart, my overall bias for CL1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 81.06, where the previous highs are.
Alternative scenario: Price may head back down to retest the support at 74.33, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 81.06
Pivot: 73.40
Support: 74.33
Preferred case: Looking at the H4 chart, my overall bias for CL1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 81.06, where the previous highs are.
Alternative scenario: Price may head back down to retest the support at 74.33, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.