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Market Commentary: Crude Oil Upside Break Plays Out | Apr. 29th
WTI Crude Oil
In my weekly market commentary yesterday, I talked about how traders should look for a breakout of the $93.84 key resistance level, targeting at a minimum $94.50. This played out exactly to the tee today, so hopefully you profited from this. Now the $93.84 could act as a role reversal level, for prices to launch higher, but short term the trend is still up. Upside targets would be $95.75, with stops just below $93.50, offering some good reward to risk play here, so look for price action signals to rejoin the trend around this level.
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