WTI Intra-day view
Updated
Hey everyone,
I want to share a simple take on our current trading situation. Right now, things are heading down, and I'm not looking to stop that. Every time prices go up, they meet strong selling, and there's a good reason for it.
The price hikes happen because OPEC+ is cutting production, and the USA is buying oil to boost its reserves. On the flip side, the downward pressure is due to OPEC+ reducing production to match lower demand in the face of a global economic slowdown.
This trading plan goes along with the bigger market movement. As we keep going down, I think there's a good chance oil will hit around $69 before any significant correction. We've got a tight stop in place, and I'm entering trades in two specific zones.
If you find this useful, consider subscribing and giving it a thumbs up. Good luck with your trades!
I want to share a simple take on our current trading situation. Right now, things are heading down, and I'm not looking to stop that. Every time prices go up, they meet strong selling, and there's a good reason for it.
The price hikes happen because OPEC+ is cutting production, and the USA is buying oil to boost its reserves. On the flip side, the downward pressure is due to OPEC+ reducing production to match lower demand in the face of a global economic slowdown.
This trading plan goes along with the bigger market movement. As we keep going down, I think there's a good chance oil will hit around $69 before any significant correction. We've got a tight stop in place, and I'm entering trades in two specific zones.
If you find this useful, consider subscribing and giving it a thumbs up. Good luck with your trades!
Trade active
Took my hole position at the shown levels, and now my position on onside, w8ing for break down support
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