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Commodity Analysis Crude Oil
Time Frame : Hourly Chart
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Crude Oil – CL
Crude Oil has been under the pump since price broke below $30 but we see that sellers are running out of steam. Oil price action looks like buyers are setting up for a short squeeze and rally higher. If we see a push to $24 then we will watch for the shoulder entry setup for a buy opportunity. If price can push through 25.15 highs then things may really start to heat up.
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Commodity : Crude Oil
Current Price : 23.02
Status : On watch for a break up to $24 and then a higher low
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