short term WTI purchase ahead of OPEC
As crude extends it's longest losing streak in...umm forever, there is an opportunity for a super speccy long trade here.
WTI was trading above $76.00 just one short month ago on perceived supply worries. We have now gone a full 180 degrees as this weeks production data now pus the emphasis firmly on talk of oversupply.
We have now tested 50% retracement from year highs, last at $59.78 and are witnessing the biggest losing streak in the contracts history (10 consecutive down days)
My reccomendation is to buy here $59.60 with a stop at $58.90, take profit on todays close in anticipation of short covering coming into this weekends OPEC meeting.
Happy Hunting
WTI was trading above $76.00 just one short month ago on perceived supply worries. We have now gone a full 180 degrees as this weeks production data now pus the emphasis firmly on talk of oversupply.
We have now tested 50% retracement from year highs, last at $59.78 and are witnessing the biggest losing streak in the contracts history (10 consecutive down days)
My reccomendation is to buy here $59.60 with a stop at $58.90, take profit on todays close in anticipation of short covering coming into this weekends OPEC meeting.
Happy Hunting
İşlem kapandı: hedefe ulaştı
Im not a greedy nor a proud man...I will take 1% in an hour every time.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.