Trade Idea | COP | ConocoPhillips | Long
Long Entry: 107.50
Stop Loss: 104.50
We are long on this one for now as oil and its peers are starting to advance due to the increasing tension in Middle East. USO is now at $72.11 and might be at $75.00 before this week ends, if no visible peace talks between each countries.
If the momentum to the upside sets in, COP might be able to test the $115 level in no time. If that happens, moving the stop to $110.00, which is now above the entry price is highly recommended to somehow protect the floating gain.
I will stay long on this one as long as the narrative on this situation stays the same.
-BB
Stop Loss: 104.50
We are long on this one for now as oil and its peers are starting to advance due to the increasing tension in Middle East. USO is now at $72.11 and might be at $75.00 before this week ends, if no visible peace talks between each countries.
If the momentum to the upside sets in, COP might be able to test the $115 level in no time. If that happens, moving the stop to $110.00, which is now above the entry price is highly recommended to somehow protect the floating gain.
I will stay long on this one as long as the narrative on this situation stays the same.
-BB
Trade active
Trade Active
Stop should be move at around 110.00 | Weekend situation about the conflict will be interesting. Gas prices are also increasing.
Trade closed: stop reached
Position closed.
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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.