RSI reversal on CL1! ?
From last low 42.03$ 2015-03-18 to last high 62.58$ 2015-05-06 , 49% gain. We also have a potential lost of 33% if we returning to that previous point.
The last major turning point was 2015-07-06, high was 56.79$ and low was 52.41$. That was the end of last trading range.
Since then CL1! dropped to 45.09$ (2015-08-03) yesterday
Now looking at RSI. We are having a turning point with new high and low wich are higher than last ones, meaning we could also have a reversal on price too. If you think this senario is probable, we should go long with potentail gain of 20% with a target of 55$ wich could be reevaluate later.
Any comments are wolcome
Please trade carefully
The last major turning point was 2015-07-06, high was 56.79$ and low was 52.41$. That was the end of last trading range.
Since then CL1! dropped to 45.09$ (2015-08-03) yesterday
Now looking at RSI. We are having a turning point with new high and low wich are higher than last ones, meaning we could also have a reversal on price too. If you think this senario is probable, we should go long with potentail gain of 20% with a target of 55$ wich could be reevaluate later.
Any comments are wolcome
Please trade carefully
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.