Oil "Possible" Support Level

Oil has been on a parabolic drop for the past week. I am hesitance to consider a long play before any sign of a reversal; however, there is a possible repeat April/May cluster level that was touched today and there are two untested pivot lows just begging for attention. Enter based on your own risk tolerance, I am not long yet, I will enter long and send an update when I see a clear sign of a reversal; which could be slow or lightning fast, as NFP and Payroll reports come out tomorrow.

S1 43.03
S2 42.49
TP1 44.53
TP2 45.75

Good trading to all!

Komentar:

sorry, things have been moving so fast this morning; although rallying, it's been difficult to determine a good buy in/support level; at this point, I feel that 43.73/43.5 is a good place to buy; I am opening long positions.

Komentar:

Target price 1 reached; showed some resistance after it was reached. I still believe that Target 2 is possible; I'll update tomorrow with a chart to show current support and resistance levels. Note: I think a decline back to the 41/42 level is possible next week. But first, I'd like to see one last pop on this pullback rally

Komentar:

I am still seeing 44.2-43.7 as a good buy level and still expect prices to test the 45.3 and 45.75 levels; long trade still active/good level to buy/add s3.amazonaws.com/tra...shots/n/n2EXXBKS.png

Trading ditutup: target tercapai