Oil has been rising because of OPEC production cuts, but now all indicators show that it is currently overbought.
There is limited room for growth now, so we are now shorting oil.
However, overbought will not reverse immediately and will last for a period of time.
But we can try the medium-term goal, the target point: about 86.
Short-term trading advice:
USoil:Sell:90.6-91.3
TP1:89.6
TP2:89.2
TP3:88.2
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Note
If you want to trade in the medium term, you need enough fundsNote
It's falling, congratulations to my friendNote
As long as you follow my strategy, you can have a nice weekendNote
TP1Note
TP2Note
Opportunity comes againNote
Maintain profitNote
In the long run, oil will definitely fall, but it will not reverse directly.Note
It may rise again tomorrow. Everyone should do a good job of position management and wait for it to fall.Note
Oil can't keep risingNote
The strategy is still effective, but the position needs to be controlledNote
Getting closer and closer to our medium-term goalsDisclaimer
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.
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.