CL1 - Going Lower, or Pressing Resistance?
I keep hearing that oil will go lower, that it was just a bounce, however…
CL1 reached $54 and then shot down to $47
CL1 reached ~$53.7 and now has shot down to $50.
Is the bounce over, or is price pushing up against a supply level with lower lows?
I see Three White Soldiers and Cup and Handle, but most of all, I see a resistance level at $54. I'm sticking it out and watching it go through that level next week.
I am not buying crude, but playing on the energy sector with TSL CSIQ BBEP GPRE and SPWR (which crosses over with housing).
CL1 reached $54 and then shot down to $47
CL1 reached ~$53.7 and now has shot down to $50.
Is the bounce over, or is price pushing up against a supply level with lower lows?
I see Three White Soldiers and Cup and Handle, but most of all, I see a resistance level at $54. I'm sticking it out and watching it go through that level next week.
I am not buying crude, but playing on the energy sector with TSL CSIQ BBEP GPRE and SPWR (which crosses over with housing).
