Dec. 6 at 1:36 AM
$CL Trade Alert: Current market context indicates a potential bullish reversal as the price is near the lower end of the 60-day range (
$74.55 -
$84.54). The RSI at 44.63 suggests there is room for upward movement without being overbought. The price is currently below both the 30-day (78.3) and 50-day (78.43) moving averages, indicating a possible buying opportunity as it may bounce back.
Suggested Entry:
$77.60
Stop Loss:
$75.50 (1.35% risk)
Take Profit Targets:
1.
$80.00 (3.11% gain)
2.
$82.00 (5.77% gain)
3.
$91.00 (17.25% gain)
The first two targets are conservative, while the third target reflects a strong bullish sentiment if the price breaks above the recent high. Monitor the ATR of 1.39 for volatility. Adjust positions as necessary based on market movements.
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