XCQ trade ideas
COG Held Major $15 Level Now to $27Fundamentally, Oil is severely oversold and price is pointing to a rebound. Technically, COG had a perfect AB=CD correction that also lined up with a huge supply level at $15. We then put in a double bottom. The next major resistance area I see that we should certainly hit is $27.
Clean Head & Shoulders - It's gonna moveThis is one of the cleanest H&S patterns I've seen in some time.
Price is currently above the neckline which puts my systematic trading approach in the Long camp up until COG is beheaded.
Target price for either scenario, Long/Short of the H&S pattern is shown by the colored boxes to the right of the last close. The Short side has additional support show by the green trendline.
