Short Idea in Crude Oil
Entry at 88 - now Wednesday night
Target: 84
Stop Loss: 91.50
Conditions for this trade:
Waning momentum, it looks like crude is getting tired as it is going up at a slower pace
Collision with its respective moving average: on here we have it set for the 50-period EMA
Event risk of news resolving the issues at hand that provided for a catalyst in oil; lack of fuel to the fire
The risk/reward ratio for taking this trading in crude oil futures is appropriate, it would make sense to keep the trade running if oil continues to drop
Target: 84
Stop Loss: 91.50
Conditions for this trade:
Waning momentum, it looks like crude is getting tired as it is going up at a slower pace
Collision with its respective moving average: on here we have it set for the 50-period EMA
Event risk of news resolving the issues at hand that provided for a catalyst in oil; lack of fuel to the fire
The risk/reward ratio for taking this trading in crude oil futures is appropriate, it would make sense to keep the trade running if oil continues to drop
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.