Light Sweet Crude has "pinched’ itself into a new trend
Resistance of 106.50 failed to contain the buying today in CL which caused a flurry of buy stops to be triggered above the downtrending channel formed of the last two weeks. You can see in the charts below how the ‘pinch’ started. the Lines are you roadmap, you must find the best rout. looking for 110+ in near week.
|5 min CL|
|4 hour zoom CL – note the channel breach to upside.|