US Oil Long
Updated
Updating my idea last week with a lower buy limit order around @65 and TP still 70 and SL near @64. This is based on bullish overall market sentiment on Oil and price arbitrage opportunity.
marketwatch.com/story/oil-prices-edge-higher-ahead-of-us-stockpile-data-2018-04-25
bloomberg.com/news/articles/2018-04-25/oil-holds-decline-as-iran-deal-proposal-eases-sanctions-concern
business.financialpost.com/investing/why-opec-has-trump-over-a-barrel-on-oil-prices
oilprice.com/Energy/Crude-Oil/Permian-On-Track-To-Become-Largest-Oil-Basin-In-The-World.html
oilprice.com/Energy/Oil-Prices/World-Bank-Oil-Prices-To-Average-65-This-Year.html
Daily:
Weekly:
Confidence: B (oil is more likely to consolidate at 65 in the short-term, but in the long run it is expected to rise --except if rising US shale oil inventories disrupt the supply-demand momentum as well as fear about another 2008 market crash but this time triggered by oil once OPEC together with Russia, "artificially" boost its price up by extending the December supply limit agreement up to next year)
marketwatch.com/story/oil-prices-edge-higher-ahead-of-us-stockpile-data-2018-04-25
bloomberg.com/news/articles/2018-04-25/oil-holds-decline-as-iran-deal-proposal-eases-sanctions-concern
business.financialpost.com/investing/why-opec-has-trump-over-a-barrel-on-oil-prices
oilprice.com/Energy/Crude-Oil/Permian-On-Track-To-Become-Largest-Oil-Basin-In-The-World.html
oilprice.com/Energy/Oil-Prices/World-Bank-Oil-Prices-To-Average-65-This-Year.html
Daily:
Weekly:
Confidence: B (oil is more likely to consolidate at 65 in the short-term, but in the long run it is expected to rise --except if rising US shale oil inventories disrupt the supply-demand momentum as well as fear about another 2008 market crash but this time triggered by oil once OPEC together with Russia, "artificially" boost its price up by extending the December supply limit agreement up to next year)
Trade closed: target reached
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