Chart Patterns & Algorithmic Trader ( Apr . 26 , ' 21 ) ( 26 )
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CL V-Bottom Pattern s
Reviewed in CPAT
Crude Oil Continuous Contract [ May21 ] (@ CL ) is forming a V-Bottom pattern on its daily chart and trading below the breakout level of $ 74.14 . V-Bottom patterns are traded when price closes above the breakout level . A stop is placed below the mid level of the V-Bottom pattern at $ 41.31 or the recent pivot low . Targets are placed at $ 114.5 to $ 125.5 and $ 157.2 to $ 180.1 .
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