CL has a weekly spinning top outside of the ascending channel. If price break the weekly low, you know where the next support is and if price break the weekly high, price is trying to enter the channel. Next few weeks are crucial. Watch the price movement.
From the monthly chart, I am watching if the exact same pattern on the left will repeat on the right.
In the daily chart, Price is currently at the daily 200 EMA / SMA . Above - bullish, below - bearish. It is not reflected in the chart below. I will include it in the next post.
Daily support/resistance on 20th Mar: 49.31, 49.41
Weekly support/resistance from 20th Mar - 24th Mar : 48.97, 48.4 (CLK7: 49.15, 48.93)
Monthly support/resistance for Mar: 53.71, 53.13 (CLJ7: 53.82, 53.45, CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28
From the monthly chart, I am watching if the exact same pattern on the left will repeat on the right.
In the daily chart, Price is currently at the daily 200 EMA / SMA . Above - bullish, below - bearish. It is not reflected in the chart below. I will include it in the next post.
Daily support/resistance on 20th Mar: 49.31, 49.41
Weekly support/resistance from 20th Mar - 24th Mar : 48.97, 48.4 (CLK7: 49.15, 48.93)
Monthly support/resistance for Mar: 53.71, 53.13 (CLJ7: 53.82, 53.45, CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28
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