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WTI Crude Oil – Breakout Hits 105 Target
On our Feb 27th market commentary, we suggested trading with the trend and watching for a breakout above the intra-day range ~103. On Friday, on the heels of the Russian troop invasion into Crimea, Crude Oil spiked, breaking above the range highs and tagging the 105 target we suggested.
Savvy price action traders profited from this as well in the members forum as we discussed this setup in there. Now the soft commodity is sitting right on top of this range. If this level holds, then a second attack on 105 is likely. A 4hr close below 103 suggests a likely pullback towards 101.50/00.
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