Crude Oil Futures (CL1!) H1 | Potential Bullish Reversal
Type:
Bullish Reversal
Key Levels:
Resistance: 78.21
Pivot: 75.88
Support: 75.28
Preferred Case:
Looking at the H1 chart, the price is falling towards a swing-low support where it could potentially make a bullish reversal off this level to rise towards the 1st Resistance at 78.21.
Alternative Scenario:
Price may break below the Pivot at 75.88 and fall towards the 1st Support at 75.28.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.