Hi guys. Here are my thoughts for oil prices :
- Crude Oil is on a bull run since December 26th, 2018. Prices are experiencing a 3rd rotation (Pullback < 20%). The bullish momentum is still present and we might experience a long run continuation at key levels.
There is a strong resistance at 57.000 - 57.500.
- Likely support levels would be 55.500, 55.000.
- 3 attempts should be the maximum.
- 10 pips of stop loss with a spread of 5 pips giving a total of 15 pips stop.
Feel free to comment or give ideas.
Succesful trading!
- Crude Oil is on a bull run since December 26th, 2018. Prices are experiencing a 3rd rotation (Pullback < 20%). The bullish momentum is still present and we might experience a long run continuation at key levels.
There is a strong resistance at 57.000 - 57.500.
- Likely support levels would be 55.500, 55.000.
- 3 attempts should be the maximum.
- 10 pips of stop loss with a spread of 5 pips giving a total of 15 pips stop.
Feel free to comment or give ideas.
Succesful trading!
Trade active
First Buy Position Failed (Stop Loss triggered).Second Long Position currently active. Limit order @ 55.500, Stop @ 55.250 and target around the resistance area (57.000 - 58.000).
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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.