Tuesday, November 28, 2017

All over the place

CL can be quite messy as you can see on the chart, today there were very few real trading opportunities most of the time chances were equal for both longs and shorts. Of course at the start of the day shorts were more appropriate and it went down, down to previous day low where it found support and started to trade messy around that level for a while, actually for a few hours. It did some stop hunting killing some longs that entered at the support just to get back slightly higher before the US session and then to continue higher in a messy short term uptrend. Given the current conditions both long trades and short trades can be winners as long as they are properly executed.
On a slightly longer view,  on the hourly chart, it could continue to go higher for a while however up until 58.80 it remains a shorts opportunity market.
     

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