WTI completed bullish ABCD in Feb 2016.
It was quite a rally since then. up by more then 60%. currently there is some resistance at $44.4 level. however, it should break and reach $48.5.
After hitting $48.5 or even short term breakout till $50, it should be a very good chance to short. short TP1 will be $40, TP2 is $35.
Interesting to trade oil. by the way, some brokers provide very good interest payment for shorting OIL!
It was quite a rally since then. up by more then 60%. currently there is some resistance at $44.4 level. however, it should break and reach $48.5.
After hitting $48.5 or even short term breakout till $50, it should be a very good chance to short. short TP1 will be $40, TP2 is $35.
Interesting to trade oil. by the way, some brokers provide very good interest payment for shorting OIL!
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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.
Related publications
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.