Currently: Cash Looking to: Buy @ $55.26
As of 3/4/19 at 12:31am EST: $
UPDATE: Last week, I suggested buying dips in crude down to $55.27 with stops on a close below $54 and with a target of $63.40.
Crude oil is pulling back sharply in the very short-term. A continuation lower to at least $55.26 support is expected. The next support below that will be $54.24. Crude should find a floor and start rallying anew at one of these support levels. Upside target is now $63.77.
We would buy dips in crude down to $55.27 with a target of $63.77 for taking profits on longs. Honor stops on a close below $54.00.