I hope you all enjoyed the blast above $45.50, zoom zoom 47.30+++
Crude is again trying to take support @ 43-44 levels… No long trades if sustain below 43 levels for few days…
on higher side $48 should be crossed to start a new up move…
Levels to watch out for today is $44.5-45, or we will see more lower levels towards 43.5-43.70…
Dont hold any longs below $43.5… tgt will be 39.5-40.5
low made 44.42…
Buy WTI crude @ 44.15-20 S/L 43.45 Tgt 45.5-46++
Another trade Bang-On… Crude low $44.05… then High made $46.25…
From last one month Crude’s range is $43.50-44 to $47-$47.50…
it bumped 6 times from $43.5-$44.50 levels in last 20 trading sessions…
Either side break will fetch 10% straight gains…
Untill then buy on dips towards $44 and sell around $46-47… with strict SL $43.20
waiting for crude to go above $47 mark with good volumes, the it will be good trade for the targets of $50.80-$54-$56… within 1-2 weeks
Another low made on Oct2, around $44 levels and back to $45.7++…
Crude oil is currently trading with stability but if we recent past, we see no particular pattern on charts. Fundamentally, oil is somewhat stable now with oil rigs in US falling and more than expected drawdown of crude oil inventories. The API and EIA data are closely watched by the investors to drive the crude oil market. The supply side still seems to be in a glut with Saudi Arabia declining to decrease the output level and it also decreased the oil futures price. With Iran coming in production scenario as soon as the sanctions are lifted, we can predict the oil to fall. $42 is one major level which if broken, we can see further selloff.
These days things can change fast, all the above news been factored in weeks ago. the bottom line is Crude Oil is @$49+ almost @ my First tgt of $50.80
Crude made a high of $49.75 before the inventory data…
I think it will go up
You thought and it came down MARKET SWING… :rolleyes: