Crude Oil Pin Bar Off Support in Uptrend | July 8th
Crude Oil – Uptrend Still In Place, Looking for Buy Signals
The $11 bull run in crude oil continues with most of it being above the dynamic support and 20ema on the 4hr chart. The commodity just formed a pin bar signal off the role reversal level (and former resistance) at 102.11. The current pullback looks corrective, suggesting higher prices. I’ll look for a buy signal to trade with the trend around this level, targeting 103.45 and 103.99, with a stop just below the level and the 20ema.
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