SHORT
Updated
I predict that price will continue raising till it reached round about 56.36 (blue line). This area could potentially be inviting for BEARS to re- enter the market and drive the price lower to or even beyond the Demand zone (shaded) . For now its a wait & see if price reaches 56.36 before entering trade ....fingers X'd.
Trade active
So far trade going in directions as predicted as price found resistance and failed to go beyond the trend line (blue line) . Currently in trade with 48 pip gained. I've moved stop loss to break-even. Now hoping that today price continues lower till its reaches Demand zone , in & around 55.00 & 54.76 , where i aim to exit trade.Trade closed manually
It looks unlikely that price will breach Support at 55.76. So it seems price has stayed in a range this week, with no price higher than 57.50 . For that reason am out, bagged a wee 48pips in the process. Will see what next week brings for WTI.
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.