Browse Stacks: Analytics: CL_4Hour_Jan152015.jpg

Bull case #2 

4-hour chart /cl continuous 

#1 - We have a break above, and close above prior swing high on this timeframe 

#2 - We have a bounce off the realllllly long-term trendline off the 1998 low 

#3 - The 5-9am est candle reversed at a key fibonacci projection level, following a qualified retracement from $50 of 38.2% 

Expect /cl to retrace lower from this Bull cypher pattern, back into the $46.00-45.75 support area (78.6% retracement of entire up impulse off 44.20 low) 

/cl SHOULD bounce from there, and then we'll make an attempt on daily chart prior swings