BUY OIL @ LEVEL OF 1.61% OF RECENT DOWN SLIDE STOP LOSS 29.50 CB
CRUDE OIL OVERVIEW>>>>>>>>>>>>>>>>>>>>>>>>
The neutral situation we recommended this week due to the inappropriate risk versus reward ratio remains unchanged, as oil trades near 30.00 levels and 29.60 support where 161.8% Fibonacci exists.
Stable moves blow 32.50 is a negative factor and may bring a test of 29.60, but as we mentioned above, we remain on the sidelines now until we get a confirmation from charts.
Support: 30.00 – 29.60 – 28.70
Resistance: 31.50 – 32.50 – 33.10
TRADE FOR RISKY TRDERS
Direction: Bearish direction, but we will not issue recommendation now.
The neutral situation we recommended this week due to the inappropriate risk versus reward ratio remains unchanged, as oil trades near 30.00 levels and 29.60 support where 161.8% Fibonacci exists.
Stable moves blow 32.50 is a negative factor and may bring a test of 29.60, but as we mentioned above, we remain on the sidelines now until we get a confirmation from charts.
Support: 30.00 – 29.60 – 28.70
Resistance: 31.50 – 32.50 – 33.10
TRADE FOR RISKY TRDERS
Direction: Bearish direction, but we will not issue recommendation now.