Nov. 13 at 1:10 AM
$CL: The last close at
$79.49 indicates a position near the MA30 of
$77.87 and slightly below the MA50 of
$79.53, suggesting a neutral to slightly bearish sentiment. The RSI at 48.51 supports this view, indicating that the asset is neither overbought nor oversold, which may lead to consolidation or a potential reversal. The 60D high of
$87.95 and low of
$74.55 establish a trading range, with current price closer to the mid-range, indicating potential for upward movement if momentum builds.
Suggested entry is at
$79.50, with a stop loss set at
$78.00 to manage risk. Target 1 is at
$83.00, near the midpoint of the 60D range, and Target 2 is at
$86.00, approaching the 60D high. This plan leverages the current technical indicators while maintaining a disciplined risk management approach.
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