Crude Oil Trading Idea : +460 Pips and what is next?

As you know we entered the LONG trade on Crude Oil at 46.20 .

We have set up our targets and the Crude Oil price closed the week @ 50.80 . 50.78 was our TARGET 3 and it was a good trade.
But it’s not finished yet.

As you will see in my previous WTI Crude Oil trading idea , we set up the target at 53-54 USD levels.


WTI CRUDE OIL H4 CHART :

Possible Pullback Levels are : 50.10 and 49.60 (Daily and H4 Fibo supports ) which I will use as a BUY opportunity.

Upside we have 2 key levels and strong resistances. 51.00 and 51.30 .

I will be watching those levels to break out. If the WTI Crude Oil price can not break those resistance some pullbacks will take a place for sure.

WTI CRUDE OIL D1 CHART :

Fundamentally , I do not see any reason the Crude Oil prices to move higher than 55 USD levels. But to look at the matter technically, 52.20, 53.10 and 54.80 levels are the Fibo Expansion levels and 56.61 and 58.74 are the top levels.

At the end of the mount OPEC will announce the CUT desicion. Till the OPEC statement I will keep my LONG positions.

Good Luck

Who’s “we”?

How are we supposed to know what your previous entries are when this is only your second post and the first one wasn’t related to this at all?

If u check my profile , you would see my blog page and my published ideas.

As estimated and published on Sunday’s CRUDE idea,

Crude Oil Price tested FIBO resistance @51.30 and rebounded.

50.60 and 50.10 are the possible pullback levels.

I will add additinonal LONG order at those pull back levels. Our targets are clear for CRUDE OIL and published on Sunday CRUDE IDEA

Break out of 50.60 and 50.10 will change the scenario short term.

I will share the updates if needed.

Crude Oil price tested the first FIBO retracement level @50.60 and headed towards to 51.30 ,51.60 and 52.10.

If the CRUDE price closes above 51.00 usd above mentioned levels will be tested in a few days.


My ultimate target for CRUDE OIL 53.10…I will decide the upper levels or the direction if the price reaches 53.10.

OPEC concessions to the market seems to be a more sensible reason for prices to strike up. After the meeting the focus will be switched to US oil producing activity.