Wticrude
wti (wticousd) LONGI have 4 scenarios but mostly like the story about long. The world economies are not ready to continue the coronovirus story and everyone is tired of it. Businesses will die, constant stimulation will kill the American dollar.
I will look for entry points after a false breakdown of levels. In my opinion in a situation of partial uncertainty this is the only way to have a positive mathematical expectation.
USoilWe must wait for the OPEC reports, which are speculated to be positive for the oil industry, with cuts in production and also the increase in industrial consumption motivated by the economic reopens that are taking place little by little. This generates a positive expectation for the rise in the price of futures and CFDs with possible levels that point to the highest point since the collapse began.
USOIL ASIA TRADE SETUPTechnical Analysis- The 4 hour is down against 1/08/2020 peak (63.87). 1 hour is turning down. However, while near-term dips remain above 6.59 low expect OIL to extend higher to correct the cycle from 1/08/2020 peak in 3, 7 or 11 swings before downside resume. We prefer selling the bounces in 3, 7 or 11 swings at the extreme areas.
Sell USOIL
@26.10-40
TP: 25.00
Tp2: 23.00
SL: 27.00
Good luck !