Crude Oil $67 Retest Possible
Instrument: Crude Oil
Entry Price: $85.35
Stop Loss: $87.00
Target Price: $67.00
Timeframe: Few weeks
Rationale:
Based on recent market trends and price action analysis, there appears to be a potential short opportunity on crude oil. The entry point at $85.35 aligns with a technically significant resistance level, which could lead to a reversal in the short term. To manage risk, a tight stop loss has been placed at $87.00 to mitigate potential losses in case the trade moves against the desired direction. The target price of $67.00 reflects a reasonable downward movement considering the historical price patterns and potential market sentiment shifts.
Disclaimer:
This message is for informational purposes only and does not constitute trading advice or a recommendation to buy or sell any financial instruments. The financial markets are subject to volatility and unforeseen events that can impact price movements. Any trading decision should be made after careful consideration of your risk tolerance, investment goals, and a comprehensive analysis of the market conditions. I strongly advise consulting with a professional financial advisor before making any trading decisions.
Entry Price: $85.35
Stop Loss: $87.00
Target Price: $67.00
Timeframe: Few weeks
Rationale:
Based on recent market trends and price action analysis, there appears to be a potential short opportunity on crude oil. The entry point at $85.35 aligns with a technically significant resistance level, which could lead to a reversal in the short term. To manage risk, a tight stop loss has been placed at $87.00 to mitigate potential losses in case the trade moves against the desired direction. The target price of $67.00 reflects a reasonable downward movement considering the historical price patterns and potential market sentiment shifts.
Disclaimer:
This message is for informational purposes only and does not constitute trading advice or a recommendation to buy or sell any financial instruments. The financial markets are subject to volatility and unforeseen events that can impact price movements. Any trading decision should be made after careful consideration of your risk tolerance, investment goals, and a comprehensive analysis of the market conditions. I strongly advise consulting with a professional financial advisor before making any trading decisions.
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.