Long
CL1 nearing breakout into uptrend
After being accumulated in a 9-month long trading range, CL1 finally showed signs of strength when it broke out of that range in late August. Since then it's come back to test resistance-turns-supports and then moved sideways within a 7% range.
A move above the current trading range high of $3.50 would move CL1 in the Markup phase with next clear resistance at its all-time high of $4.20.
A move above the current trading range high of $3.50 would move CL1 in the Markup phase with next clear resistance at its all-time high of $4.20.
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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.