Traders are still watching this inverse HS. And OPEC has been in the headlines talking about production cut / freeze. How CL moves is in the hand of OPEC members now.
In the daily TF, CL has crossed blue lines which mean it is preparing for an uptrend. The invese HS neckline is still not crossed. So I suspect price will be fluctuating around the yellow area. CL is good for intra day trade and not swing trade at the moment.
Daily support/resistance on 10th Oct: 49.72, 50.07
Weekly support/resistance from 10th Oct - 14th Oct: 49.45, 49.26
Monthly support/resistance for Oct: 47.25, 45.66, 47.27, 45.72 (CLX6), 47.89, 46.40 (CLZ6)
In the daily TF, CL has crossed blue lines which mean it is preparing for an uptrend. The invese HS neckline is still not crossed. So I suspect price will be fluctuating around the yellow area. CL is good for intra day trade and not swing trade at the moment.
Daily support/resistance on 10th Oct: 49.72, 50.07
Weekly support/resistance from 10th Oct - 14th Oct: 49.45, 49.26
Monthly support/resistance for Oct: 47.25, 45.66, 47.27, 45.72 (CLX6), 47.89, 46.40 (CLZ6)
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