Crude oil - Trade with +18,5% profit potential [English]
The correction phase led crude to $ 62.25. The 200-day line could so far act as support in correction phases. Currently, the contract is traded for 3 days below this important line. If it remains below it, a more extended correction must be assumed. In this case, i do not recommend a long position.
If Crude would conquer the 200-day line again, this can be interpreted as a bear trap. In that case, this could be an interesting long entry.
As it's moving above that area now, you can look for buys into $ 85,24. Stops should be around $ 64,60.
"Trading Futures, Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Articles and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice."
If Crude would conquer the 200-day line again, this can be interpreted as a bear trap. In that case, this could be an interesting long entry.
As it's moving above that area now, you can look for buys into $ 85,24. Stops should be around $ 64,60.
"Trading Futures, Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Articles and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice."
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.