Yesterday the low 51s was
mentioned as a potential support area for CLQ5
and while above a bias will be more on the neutral side while also holding
below 54s.
Now that CLQ5
closed above & now trading well above 51s
odds favor potential bullish follow through as long as remaining above 52.25-51.45 zone, and while above 51.45 upside targets are at 53.90s then 54.70-55.10 zone.
Once/if upper targets are reached there will still be potential
to Short lower high formations anywhere below 56.05-57.30 zone.
Ethan Premock
Futures
& Options Strategist
Hamzei
Analytics, LLC