The /CL (crude oil futures or USO, crude ETF) long swing trade has hit the second price target (T2) for a quick 16% profit. With the odds for a reaction off T2 elevated, coupled with the quick 16% profit & near-term overbought conditions, I’ve decided to eliminate T3, making this (T2) the final price target & will look for the next objective entry on crude, long or short. Previous & updated 120-minute charts below.
CL 120m June 24th
CL 120m July 13th
CL 120m July 14th
As this is now the final price target, /CL (USO) & all previous posts associated with this trade will now be moved to the Completed Trades archives.