Paper Trade 031920181345
In USOIL at 62.17
TP at 64.00
SL at 61.50
I think price action will become more reactive to storage reports as we reach the summer months.
I don't expect too many surprises to the downside.
I like the entry here because it was very close to VWAP;
In my opinion, in the process of the market doing price discovery, learning the complete picture of a possible deficit, USOIL should rise in price.
And I think two rate hikes have already been priced in for the dollar.
Technical pattern is upward-sloped
TP at 64.00
SL at 61.50
I think price action will become more reactive to storage reports as we reach the summer months.
I don't expect too many surprises to the downside.
I like the entry here because it was very close to VWAP;
In my opinion, in the process of the market doing price discovery, learning the complete picture of a possible deficit, USOIL should rise in price.
And I think two rate hikes have already been priced in for the dollar.
Technical pattern is upward-sloped
Note
Wondering if we'll see a NY-close (equities) bounce. Speculators looking to hold overnight, maybe?
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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.