I see 5 major possiblities:
1. Price turns at this (red) centerline where it is now, and go's for a test/retest to the upper CL (blue)
2. Price stops a the mesured move line, the one in the green zone
3. The lower (grenn) A/R line holds for a massive move to the upside. If this holds, we would have a huge hagopian which means, price is going further back then from where it came.
4. Price finds support at the L-MLH of the small black/red fork, going north again for a retest at least to the red CL
5. Flush again - down to the blue L-MLH. If so, there is also a high chance that crude could overshoot it and go even further to the south, where heat will really hurt some investors "you know what".
How to play this market?
SAVELY!
Using options the right way is allways a very good idea...
P!
1. Price turns at this (red) centerline where it is now, and go's for a test/retest to the upper CL (blue)
2. Price stops a the mesured move line, the one in the green zone
3. The lower (grenn) A/R line holds for a massive move to the upside. If this holds, we would have a huge hagopian which means, price is going further back then from where it came.
4. Price finds support at the L-MLH of the small black/red fork, going north again for a retest at least to the red CL
5. Flush again - down to the blue L-MLH. If so, there is also a high chance that crude could overshoot it and go even further to the south, where heat will really hurt some investors "you know what".
How to play this market?
SAVELY!
Using options the right way is allways a very good idea...
P!