Get started
West Texas Oil
Long

Overall view of XTIUSD or Crude Oil - Update of July 15th's week

By Theperfectionist
Updated
Pushed by institutional inventories after a plunge from the yearly high, crude oil slightly broke upside the previous supply level @60.000. The energy security has been calmly ranging for two days while the long-institutions and short-retailer holding volumes are increasing. In another hand the daily traded volume is decreasing : We shall still experience a continuation of the upside movement.

Possible Target: @64.000 (+3400 pips).

Advice: Stay bullish and buy any low point while we don't break downside @58.000 level.
Trade closed: stop reached
Oil has broken down the old supply level, confirmed its bearish behaviour and is leading to the demand level @56.000
Bullish PatternsbuyChart PatternsCrude OilEIAEnergy CommoditiesHarmonic PatternsinventoriesTrend AnalysisCrude Oil WTI
Theperfectionist

Related publications

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.