As crude extends it's longest losing streak in...umm forever, there is an opportunity for a super speccy long trade here.
WTI was trading above $76.00 just one short month ago on perceived supply worries. We have now gone a full 180 degrees as this weeks production data now pus the emphasis firmly on talk of oversupply.
We have now tested 50% retracement from year highs, last at $59.78 and are witnessing the biggest losing streak in the contracts history (10 consecutive down days)
My reccomendation is to buy here $59.60 with a stop at $58.90, take profit on todays close in anticipation of short covering coming into this weekends OPEC meeting.
Happy Hunting
WTI was trading above $76.00 just one short month ago on perceived supply worries. We have now gone a full 180 degrees as this weeks production data now pus the emphasis firmly on talk of oversupply.
We have now tested 50% retracement from year highs, last at $59.78 and are witnessing the biggest losing streak in the contracts history (10 consecutive down days)
My reccomendation is to buy here $59.60 with a stop at $58.90, take profit on todays close in anticipation of short covering coming into this weekends OPEC meeting.
Happy Hunting
Dagangan ditutup: sasaran tercapai
Im not a greedy nor a proud man...I will take 1% in an hour every time.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.