With Oil likely to be topping soon, O&G exploration is one industry to look out for potential trades.
CLR: Since its low in 2016, CLR has completed a 3 wave set back and topping around the 60 zone.
Prices are likely to be in the early stages of the reversal and in a 1-2, 1-2 wave sequence.
Fibonacci: Prices has reversed around the 61.8% retracement
Momentum: RSI has turned down from bear market resistance in the 60-70 zone.
MACD have also turned down and approaching zero line cross-over.
A break above the recent high of 60.30 will invalidate the trade.
(Detailed H4 Chart)
CLR: Since its low in 2016, CLR has completed a 3 wave set back and topping around the 60 zone.
Prices are likely to be in the early stages of the reversal and in a 1-2, 1-2 wave sequence.
Fibonacci: Prices has reversed around the 61.8% retracement
Momentum: RSI has turned down from bear market resistance in the 60-70 zone.
MACD have also turned down and approaching zero line cross-over.
A break above the recent high of 60.30 will invalidate the trade.
(Detailed H4 Chart)
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Trade at your own time and own target.
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