US Crude Oil Ranging Trade [41.20 - 43.00]
Time frame - Short term
Trend - Ranging
As the price still ranging with a show of breaking down the existing upward trending. We would prefer to trend in a range with buy at support and sell at resistance strategy.
With current price hitting the first box range at current price $41.58. Tight stop loss is to be in place for long once bounce off with potential resistance at midway and eventually at 42.90.
If the price break down from current, then we might be looking at the next take profit target at $39 for shorts.
Our long term view still maintain
Trend - Ranging
As the price still ranging with a show of breaking down the existing upward trending. We would prefer to trend in a range with buy at support and sell at resistance strategy.
With current price hitting the first box range at current price $41.58. Tight stop loss is to be in place for long once bounce off with potential resistance at midway and eventually at 42.90.
If the price break down from current, then we might be looking at the next take profit target at $39 for shorts.
Our long term view still maintain
Trading ditutup: target tercapai:
Price has broken down and hit 39 area target.
