CLN2020: Gap Retest
Updated
The July delivery contract is seemingly in a decent spot for buyers. Having retested the bullish structural gap area, oil is now trading at a price where many players are waiting for it choose the direction, which will ultimately accelerate the consequent move as players book profits/losses. This can be interpreted as having greater control of risk, as a 1.5K risk is enough to "know" whether one is wrong being bullish here.
Comment
The 1.5k risk was more than enough to now that you should get out of short risk exposure.Disclaimer
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