Technicals:
- D1 head and shoulders, resistance being met.
- Bearish gartley
- A counter trend trade - offering a lower probability of success, but a large reward:risk of more than 1:10.
Fundamentals:
Global economic slowdown --> reduced industrial output --> falling demand for crude oil --> decreased crude oil price
What can make this trade fail?
1. US-China trade deal success can result in US/China increasing their industrial output --> increased crude oil demand --> increased crude oil price
2. US depreciation from measures by the fed (potential interest rate cuts and easing) may drive XTIUSD up.
- D1 head and shoulders, resistance being met.
- Bearish gartley
- A counter trend trade - offering a lower probability of success, but a large reward:risk of more than 1:10.
Fundamentals:
Global economic slowdown --> reduced industrial output --> falling demand for crude oil --> decreased crude oil price
What can make this trade fail?
1. US-China trade deal success can result in US/China increasing their industrial output --> increased crude oil demand --> increased crude oil price
2. US depreciation from measures by the fed (potential interest rate cuts and easing) may drive XTIUSD up.
Trade closed: stop reached
US airstrikes - risk of oil supply reductions caused XTI to appreciate
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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.