We are in trading range since two months just over old support wich was tested in 2006, 2007 and 2009.
On monthly basis we are still on downtrend.
On weekly basis CL1! looking weak to burst with MACD just under zero and RSI on 50% line and STOCH is high but showing signs of weakness.
On daily basis many indicators are showing to short CL1!
BUT I'm still holding my position since CL1! is higher then my support point at 57.85$
If CL1! is going lower I will go short
If you think CL1! is strong enough to stay over then it could be a good entry level
On monthly basis we are still on downtrend.
On weekly basis CL1! looking weak to burst with MACD just under zero and RSI on 50% line and STOCH is high but showing signs of weakness.
On daily basis many indicators are showing to short CL1!
BUT I'm still holding my position since CL1! is higher then my support point at 57.85$
If CL1! is going lower I will go short
If you think CL1! is strong enough to stay over then it could be a good entry level
