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Crude oil (WTI) Short to Medium Term Analysis
CFDs em Petróleo Bruto (WTI)
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Crude oil (WTI) Short to Medium Term Analysis
Por robin_bajaj_7
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1 de ago. de 2016
4
1 de ago. de 2016
The WTI Crude touched a Low of $40.55 last week after the release of inventory data (Last Wednesday) showing over Supply.
The recent release of Chinese PMI data showing signs of Chinese economy slowing down further, which puts additional pressure on Oil going forward.
Read More Here :
wsj.com/articles/china-jul-official-manufacturing-pmi-49-9-vs-50-1-market-expectation-1470014653
Buyers Buy $41.10-$41.30 for targets of $44-$45 and a Stop below $40.40.
Sellers Wait for the Bounce to complete and Short around $46 levels and stops around $48 targeting $35.
I hope i have not disappointed anyone because i have something for everyone ;) But i am more biased towards the short side.
Happy Trading People
Cheers!!
USOIL
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robin_bajaj_7
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