Please refer to my "Oil - Possible Sideways Range" chart as I believe that although prices have breached the top, that we may see another run back near the bottom of the range.
48-48.6 level may initially see strength but if the next couple of EIA reports are bearish I believe that the glut madness will recycle in the coming months and that our current 50.X level will be seen as a cap.
I am recommending a short entry at 50.60 with TP1 at 48.6 where I recommend taking partial profits. I am advising to re-short those positions at 49.5 and take final profits at 46.05; where I will likely re-enter long.
Sell/Short Entry: 50.60 (Active)
SL: 51.6
TP1: 48.60
TP2: 46.05
Good trading all!
I will likely start staggering my sideways model right below the daily 20 MA at 49.18:
48-48.6 level may initially see strength but if the next couple of EIA reports are bearish I believe that the glut madness will recycle in the coming months and that our current 50.X level will be seen as a cap.
I am recommending a short entry at 50.60 with TP1 at 48.6 where I recommend taking partial profits. I am advising to re-short those positions at 49.5 and take final profits at 46.05; where I will likely re-enter long.
Sell/Short Entry: 50.60 (Active)
SL: 51.6
TP1: 48.60
TP2: 46.05
Good trading all!
I will likely start staggering my sideways model right below the daily 20 MA at 49.18:
Dagangan aktif
This short trade is activeDagangan ditutup: hentian tercapai
Well, that ended before it started, stop hit. Back to the drawing board.
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.