We added LONG positions to our account @46.20 .
As I mentioned before H4 bar closings abobe 46.80 would confirm us the upside move. And so it did.
When we look at the CRUDE OIL h1 Chart :
Crude Oil price closed the week above MA50 MA100 . .Possible intraday pullback levels are 47.50 and 47.20.
According to H4 chart resistance levels 48.20 and 48.45 .
48.60 is the daily Fibo resistance.
Since we already entered long trade , I will wait to add additional long orders.
I have 2 entry points .
1 . 47.20 with possible pullback
2. H1 bar closing above 48.20 ( which will comfirm me a stronger upside move )
We added LONG orders @48.20 and CRUDE price is @ 49.05 now .
49.21 is an important intraday resistance . Break out of this level will carry the the price to 50.00 and 50.78
53.00-54.00 are the midterm targets.
but before 51.45 or from 51.45 there might be a retracement to 49.70 ..
Then 52.15 will be reached .