Oil starting to look exhausted...
Here we are tracking a large swing to the downside in oil. I would like to fade the highs here and target the range lows (see attached idea for those wanting to target 45 in the coming months).
This idea is for the coming sessions as crazy as it sounds, we have some monster moves coming on the demand side. The ECB confirmed the slowdown is real and the FED are going to continue the dovish tone meaning we have all the cards we need on the monetary side.
You may also see it wise to simply sell a break of the red trend line. Stops clearly marked above the highs at 58.30 whilst targets sit below at 55.4 and 52.9.
Thanks and best of luck.
This idea is for the coming sessions as crazy as it sounds, we have some monster moves coming on the demand side. The ECB confirmed the slowdown is real and the FED are going to continue the dovish tone meaning we have all the cards we need on the monetary side.
You may also see it wise to simply sell a break of the red trend line. Stops clearly marked above the highs at 58.30 whilst targets sit below at 55.4 and 52.9.
Thanks and best of luck.
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Feragatname
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