RANGING MARKET BUY SETUP
Crude oil is currently ranging between two key levels. The problem is that there is no sign of price action rebounding, and it looks like a falling knife. However, this is a perfect zone for a reaction. Aggressive traders can open a small position from here. Personally, I will wait a little to see the start of bullish momentum first. Don't forget about the large spreads when the market opens. $71 looks like a perfect TP target. Let's see.
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.