OIL: Short above 77 today
Updated
Oil saw a high-volume drop below support near 78 yesterday, which turned the immediate position into a resistance level. As of now, there has not been a complete breakthrough and the trend has weakened, so in terms of trading, selling short positions is the main strategy for today, with buying long positions as a secondary strategy.
Specific trading strategies:
Sell short near 77.4-78.5, take profit near 76
Buy long near 75.7-74.2, take profit near 76.5
I will continue to track market trends and share trading strategies in real time. Thank you for your attention and support. If you have any questions, please leave a message in the comments section. I will provide you with the most sincere and responsible solutions to help you solve your problems.
Many things may not yield immediate results at first, but only those who persist in pursuing their goals can experience the joy of success. As the saying goes, "Every cloud has a silver lining." The effort you put in will eventually receive a satisfactory response from time.
Trade active
Oil has not been able to reach the trading point today. It is relatively close to the short position at present. You can use a small amount of margin to go short. If it rises above 77, you can increase your positionNote
The short position can be slightly increased at the current level.Trade active
Oil is approaching the take-profit level, and you can choose to close the position or continue holding and wait for around 76.2.Note
The oil price has reached a take-profit level near 76.2, so it's time to take profits.Trade active
Oil prices have sharply declined, approaching the buy point. Traders can enter the market with a small long position. If the price falls below 75, positions can be added appropriately.
Related publications
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.