Long
Crude Oil
Crude oil has been one of the easiest trades I've made the past 12 months. Oil consumption was hit hardest through Covid bottoming out in APR 20 due to world wide lockdowns. Since then stronger demand and OPEC cuts have seen Crude move through the upper trend line which had previously held for 11 years.
Recent Delta cases and restrictions around the world have hindered the move up only slightly.
Personally id like to see crude not close below the lower trend line. But still see strong support on that previous resistance at the 60 region. but a close below 67 ill be assessing charts and world events on the outcome of this trade.
Recent Delta cases and restrictions around the world have hindered the move up only slightly.
Personally id like to see crude not close below the lower trend line. But still see strong support on that previous resistance at the 60 region. but a close below 67 ill be assessing charts and world events on the outcome of this trade.
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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.