WTI stockpile data helped yesterday to reach the 62.3x target
WTICOUSDAs mentioned in my yesterday analysis 62.0x has played a pivotal role in the price action. After a reversion at that level, we have had a drop to the 61 price range.
Thanks to an anticipation of the coming data and a surprising decrease of over 3 million barrels the target I mentioned of 62.3x was quite exactly reached during the US session.
A rejection of that level has created an opportunity to gain velocity to the downside.
After a drop, we can expect a compression area around the 61.5x-61.6x waiting for more volume to move further.
The next major support resides in the 61.0x price range. A pullback at that level can be anticipated as very likely.
A penetration below 61 can open the way to the 60 price range.
Nota
A pullback to 61.72 was an opportunity to add on the Short positionDagangan ditutup secara manual
All positions close@ 61.44. China is claiming the right to buy oil from Iran, EU is rejecting Iran ultimatum on uranium. That very conflicting background suggests waiting for a new impetus.
Dagangan ditutup: sasaran tercapai
New Short @62.1x reached target @61.03. The structure has changed
Waiting for a pullback on the 61.4x area
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Penerbitan berkaitan
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.