Crude Oil Futures (CL1!) H1 | Intense Bearish Momentum
Crude Oil Futures (CL1!) H1 | Intense Bearish Momentum
Type:
Bearish Reversal
Key Levels:
Resistance: 68.47
Pivot: 67.58
Support: 66.23
Preferred Case:
Looking at the H1 chart, my overall bias for crude oil futures (CL1!) is bearish due to the price trading within a bearish channel while remaining under the bearish Ichimoku Cloud. The price could reverse off the Pivot and fall towards the 1st Support at 66.23
Alternative Scenario:
Price may break above the Pivot at 67.58 and rise towards the 1st Resistance at 68.47.