Crude Oil Futures (Jun 2020)Updated Oil with stiff overhead resistance. But mostly clear to $23-24.
1. Oil futures did not go to zero, dummies. Learn how futures contracts work.
2. Been a while since we've seen $25+ oil, which is why we see the light blue, orange, and purple levels above price.
3. That said, I can't recommend shorting the bottom on oil. Oil from $20 - 23 is a 10% increase, and we're pretty clear to get back to $23-24. You could easily blow out your account if oil prices suddenly rise 10% one day ($20 to $22).
2. Been a while since we've seen $25+ oil, which is why we see the light blue, orange, and purple levels above price.
3. That said, I can't recommend shorting the bottom on oil. Oil from $20 - 23 is a 10% increase, and we're pretty clear to get back to $23-24. You could easily blow out your account if oil prices suddenly rise 10% one day ($20 to $22).
Note
A. Light Blue: Weekly Levels (W)B. Green: Daily Levels (D)
C. Purple: Monthly Levels and above (MO)
D. Orange: 3 day levels. (3D).
E. Red: (12 hour levels and below.)
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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.