Oil looks good for a buy after the hour candle spike in volume to confirm the bull pennant. Candle closed pretty much above the support box just 5 min moving averages are lagging a bit.
RSI is looking strong and stochastic is still nicely oversold on the hourly so plenty of room to breathe upwards.
First take profits at the break of the bull pennant. Could hold some to see if we get a further move upwards. Stop at the low of the hourly candle.
RSI is looking strong and stochastic is still nicely oversold on the hourly so plenty of room to breathe upwards.
First take profits at the break of the bull pennant. Could hold some to see if we get a further move upwards. Stop at the low of the hourly candle.
Note
Closed out 50% at stop loss and kept the rest long with a wider stop. This looks like a flag here and things seem choppy. I expect we'll see more bullish momentum at some point to take this trade into profitTrade closed: target reached
Close out after 1hr divergence. Nice profits
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