I'm looking for a pull back to 1.27100 which is a support/resistance level from Jan 2015 and 2009. From this area I will look for a long position. Technically price is still waiting to make a proper break of the range but with the recent bullish momentum, weak Canadian dollar and strong US dollar I believe it is inevitable that price will break out north. It's essential we wait for key entry levels for the best price.
Remember that Oil is highly correlated with the Canadian dollar as Canada is the third biggest exporter of Oil in the world. Poor oil prices = poor Canadian economy.
Remember that Oil is highly correlated with the Canadian dollar as Canada is the third biggest exporter of Oil in the world. Poor oil prices = poor Canadian economy.