After the regular market closed oil took on a strong rally and moved into the top part of a big range, I would expect ( has started as of this typing) a pull back to 57.10 or 56.77 area and this will be a spot I will be looking for a long trade idea to take us back and test 57.56 and then a big upper limit of 58.30. failing to hold the 56.58 area will take us back into the bottom of the big range and will most likely give a choppy short trade back to mid 55's
Trade closed: target reached
pretty much nailed the upper limit
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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.