Crude is at a key trading point. Given the overall bearish tone on the oil market I'm suspecting we might see a short squeeze before moving lower longer term.
Week target is $49.10 with a low capped around $45 per barrel. Lets see what the week brings!
Note: All ideas shared here are for learning and understanding purposes only. Any trade taken on this projection is done so under your own risk.
Trade closed: target reached
This trade turned out nicely. At this point any further upside is subject to new analysis.
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.