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  • /WTI (Crude Oil)

WTI (Crude Oil)

"Walk on the wild side" - Oil long.The daily chart has spoken! Not really though, but who am I to question a second bounce on the April 2016 trend line? Apparently despite all of the mayhem (and lots of wicks) we seem to have settled for now and I have added some more to my long term oil position. Longs: 46.738 - TP: When we run out of oil ;) 47.141 - TP: 50.17x Stop loss down at 46.544 Hidden divergence on the 1D coupled with oversold RSI and a converging MACD are the main factors influencing my decision to double down here. Furthermore, as the trend began last April, a month that is generally bullish, it would be more than mere coincidence for this to be the start of another summer bull run. While there are many fundamentals that could prove this idea wrong in the near future, only time will tell if this trade was in fact a bad idea. For those following this idea, guard your stops and play as you see it, lots of volatility in store for the near future!
OANDA:WTICOUSDLong
by mwooddowney
Updated
Quick Oil short Oil hopefully heading down now but could easily continue up , invalid on new highs first target down 35.80
FX:USOILShort
by ugeo211
Updated
1122334455667788991010111112121313141415151616
…999999

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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