Crude Oil Readying for Another Push HigherCrude Oil appears to be setting up for another run up in a continuation of its rally since the fourth quarter route of last year.
A Minor Pivot Stack is in place, but the price will need to confirm strength on a move through yesterday's high first.
Then the Pivot Stack should provide a much more convincing support level.
Go long if the price trades through 54.18 and place a stop loss at 52.22 with a profit target of 57.37
Use the March 2019 contract, symbol CLH2019, on the ICE Futures exchange with any NFA registered U.S. futures broker, both regulated by the U.S. Commodity Futures Trading Commission.
Be prepared to roll the contract over to the next month, the April contract, symbol CLJ2019, in about a week, if the trade is active.
