Dec. 19 at 3:30 PM
$CL Actionable Trade Alert:
Market Context: Currently,
$CL is trading at
$77.73, showing a bearish sentiment with an RSI of 39.63, indicating potential oversold conditions. The price is below both the 30-day MA (78.67) and the 50-day MA (78.25), suggesting a downward trend. However, the price is near the 60-day low of
$74.55, presenting a possible reversal opportunity.
Directional Bias: The bearish sentiment is tempered by the proximity to the 60-day low, and a potential bounce could occur if buying pressure increases.
Trade Plan:
- Suggested Entry:
$77.00 (below last close for confirmation of a reversal)
- Stop Loss:
$74.00 (to limit downside risk)
- Take Profit Targets:
1.
$80.00 (3% gain)
2.
$82.00 (5.8% gain)
3.
$91.00 (17% gain)
This trade plan provides a solid risk-reward ratio, capitalizing on potential upward movement while managing risk effectively.
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