smitheric1970

Oil Weekly Inflection Zone - Intra Week Update

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smitheric1970 Atualizado   
NYMEX:CL1!   Futuros de petróleo leve bruto
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I'll be looking for a double play in oil this week. Oil's breakout has possibly created short/mid-term strong support at the 43.33 level. Following Friday's close I believe prices could test the 45.92 level I've been waiting for early next week. However, I think there's a good chance prices will be due for a small pullback following a test of the 45.92 level which may coincide with a touch off of the upper trend line; so I am currently long and I'll be shorting from TP1 down to TP2. The long trade is active already (based on previous posts)

Trade: Active
TP1: 45.8 (Enter a short position here; I expect prices to test 45.92)
TP2: 44.2

Please enter stops based on your own risk tolerance. Good trading to all!
Comentário:
Target 1 Reached
Trade fechado: stop atingido:
Unfortunately, this trade is closed as my upper stop was reached at 46.5; I do believe we'll see prices retrace to probably 44.9 soon where we'll likely enter another long trade.
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