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US Crude

Hi guys,
I just wanted to share with you all, my point of view on the US Crude. I think we have a classic distribution pattern on the chart right now. After the biggest intraday move in history three weeks ago, since then, we have had constantly selloff on US Crude. Last Thursday we marked up to $51 level and what I see on the chart, is that long positions accumulate have just started. Only one piece is missing. Before the price will go up, according to distribution theory, the price should be testing again the previous low. As you can see we are just expecting to get in the long position at 5028 with a stop just below 4800, our target is nearly 5500.


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