cl, oil, day trading for Aug 16th

16. Aug. 2019

oil looks to be very balanced and is getting ready for a good sized breakout, I do not think the break out happens today but the outside blue boundaries, if broken will change my mind if a move out side this range is held. So today I will be looking for a range bound day with two possible trades. 1) short from top of blue zone and long from bottom of blue zone and 2) a 50 rick break above the top of the red zone and a 50 tick break below the bottom of the red zone.