CL - Bullish Rectangle Blue Sky Breakout Play

21 thg 12, 2020

CL has been consolidating for around one month and forming a bullish rectangle. When consolidation gets tight and the price keeps knocking at ATH, we can see a nice blow off top move. OI on 1/15/21 85c is at 5,000 which is quite high. You can either get in early and wait for the break out, or set an alert at 84.62 and buy weeklies on the breakout (weeklies don't have as high OI/Volume)