A long term bullish approach on WTI Crude Oil using Pitchfork.

14 May 2018

After the latest pull back was completed last February, CL has been trading higher on a strong 1D Channel Up (RSI = 60.302, MACD = 1.450, BBP = 1.5420). It is a long term opportunity for a 73.00 target. According to the Pitchfork tool, it has just re-entered the middle channel and the first support (and long entry) is 69.54. 2nd at 67.65 and 3rd (and final) at 66.40. The last two are of course in case we see a much bigger correction.