WTI Light Crude OilShort
Fade the news driven rallye
Owing to the prevailing geopolitical circumstances, the WTI crude oil price has witnessed a notable upsurge in recent times. Nonetheless, it fell short of attaining fresh record highs.
On the past Friday, there was a retracement in the price, accompanied by the emergence of conspicuous hidden bearish divergences in the cumulative delta.
This presents us with a viable opportunity to initiate a short trading position, offering a risk-reward ratio (RRR) of 3.1:1, with the initiation of the recent news-driven price movement serving as the targeted price point.
On the past Friday, there was a retracement in the price, accompanied by the emergence of conspicuous hidden bearish divergences in the cumulative delta.
This presents us with a viable opportunity to initiate a short trading position, offering a risk-reward ratio (RRR) of 3.1:1, with the initiation of the recent news-driven price movement serving as the targeted price point.
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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.
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.