Oil's been struggling for a few days and now it satisfies two criteria : 1) It closed above the MA. 2) There's a bullish thrust yesterday.
Even though I don't trade daily charts, I think it's better to have a general idea where this is headed to.
This bullish pattern might fail too...especially when the yesterday's candle gets completely engulfed (and we close below the MA) . But, the reward/risk ratio is high enough to take a calculated trade here.
Even though I don't trade daily charts, I think it's better to have a general idea where this is headed to.
This bullish pattern might fail too...especially when the yesterday's candle gets completely engulfed (and we close below the MA) . But, the reward/risk ratio is high enough to take a calculated trade here.