Currently: Long Looking to: Sell @ 61.43
As of 9/8/19 as of 11:37pm EST: $57.21
LAST WEEK: We suggested buying at last weeks levels with stops on a close below $53 and with an upside target of $61.43.
UPDATE: Crude oil is rallying after successfully testing and holding support near $53. Crude appears to us to be on track for a move up to $61.31 in the short-term. Dips are to be bought ahead of the test of that level.
We would get long of crude on a pullback to $54.70 with stops honored on a close below $52.75 and with the upside target of $61.31.
We would only short up at $61.31 with stops above $62 and with a target of $36.