Crude Oil view: Channel trade set up

TVC:USOIL   CFDs on WTI Crude Oil

Observations from the chart

- WTI Crude trading in up trend channel since last 1 month

- 20 day EMA crossover above 50 day EMA and 200 day EMA

- 50 day EMA crossover above 200 day EMA

Based on the observations we feel:

WTI Crude to be in positive territory &

If channel trade is to continue there seems to be good opportunity to go long for target of 54-55 with stop below 48.50 on closing basis

Take care & safe trading...!!!


Trade closed: target reached: WTI Crude
CMP 57.16

Channel trade is complete

Here's updated chart

Happy trading...!!!
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