After hitting & reversing off the 37.62 target/support following a slight overshoot & divergent low, /CL crude oil offers an objective short entry, re-entry, or add-on at this bounce back to the intersecting 38.69 + downtrend line resistance levels. Previous (yesterday’s) and today’s updated 30-minute charts below.
CL 30m June 24th
CL 30m June 25th
Likewise, USO (crude ETN) hit & reversed (as anticipated by the arrow break from yesterday chart) off the 26.83 target/support & has bounced back to the former 27.75 support, now resistance level, thereby offering the next objective short entry, re-entry (for those that covered at 26.83), or add-on to an existing position. Previous & updated 60-minute charts below.
USO 60m June 24th.png
USO 60m June 25th