Crude Oil Futures (CL1!) D1 | Potential Bullish Bounce
Type:
Bullish Bounce
Key Levels:
Resistance: 69.94
Pivot: 66.67
Support: 65.75
Preferred Case:
Looking at the D1 chart, the price is trading close to a multi-swing-low support where it could potentially make a bullish bounce off this level to rise towards the 1st Resistance at 69.94.
Alternative Scenario:
Price may break above the Pivot at 66.67 and rise towards the 1st Support at 65.75.
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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.