FX.co ★ bradtke.owen | CL/Crude Oil

Yesterday I wrote a forecast on oil CL, suggesting buying from the lower boundary of the ascending channel. As a result, a very strong growth impulse was given from there. Moreover, there was a renewed escalation of tension in the Middle East overnight. As a result, the price from the channel low around 82.00 rose to 86.23 at the moment. This means that one could have taken more than 400 points of profit, but again, taking such a trade at night while sleeping is unrealistic. Unless you use advisors or robots. In the end, the price is currently experiencing a significant pullback and it is quite possible that it will pull back to the sloping support again. If this happens, one could assume an attempt to break out downwards. Of course, given the current fundamental data, this seems unlikely, but that's the nature of the market - it should be unpredictable. And the media can play by order, so this option cannot be ruled out.