We are using 3 draws within the Micro Timeframes.
Each is a valid setup with Convergence in the 6955 - 6959 Area.
CL has made a new low in during Globex @ 6904.
The Target on the prior setup remains 68.70.
6919 - 717 remains the area for a retest within the Range for now.
The 6904 trading is typical CL Price action, it drives lower and higher
than indicated prior to reversals.
IF it were to break 6870 and begin a traditional measured move to and
through this level, 6501 - 62.00 opens up for trade.
At present we are SOH having closed 70.56 SELLS at 69.25.
We will watch for indications as to direction into 10AM EST Pit and EU CLose
@ 11.30 AM EST.
Each is a valid setup with Convergence in the 6955 - 6959 Area.
CL has made a new low in during Globex @ 6904.
The Target on the prior setup remains 68.70.
6919 - 717 remains the area for a retest within the Range for now.
The 6904 trading is typical CL Price action, it drives lower and higher
than indicated prior to reversals.
IF it were to break 6870 and begin a traditional measured move to and
through this level, 6501 - 62.00 opens up for trade.
At present we are SOH having closed 70.56 SELLS at 69.25.
We will watch for indications as to direction into 10AM EST Pit and EU CLose
@ 11.30 AM EST.