We have been able to enter @ $ 94.00 small leverage for now.
The chart looks like bottoming and it is likely we will see higher price levels again back towards $ 105-110 initially.
The strategy is therefore, buying into weakness, or if new position BUY $ 94-96, or if more adventures current $ 97 handle.
we will add further @ 88-90 when seen, as I feel we may not see very low levels due to the ongoing situation. Market needs oil and there is a shortage. the only reason we went lower was due to OVERBOUGHT conditions and not a change of the situation.
Even when the war will stop, still has shortage of oil supply, is my personal view. Over all I cannot see oil below $ 75 for now.
Profit order for now $ 104.75 but we may adjust this later again. If we buy in weakness more, then we change the profit order slightly.
The chart looks like bottoming and it is likely we will see higher price levels again back towards $ 105-110 initially.
The strategy is therefore, buying into weakness, or if new position BUY $ 94-96, or if more adventures current $ 97 handle.
we will add further @ 88-90 when seen, as I feel we may not see very low levels due to the ongoing situation. Market needs oil and there is a shortage. the only reason we went lower was due to OVERBOUGHT conditions and not a change of the situation.
Even when the war will stop, still has shortage of oil supply, is my personal view. Over all I cannot see oil below $ 75 for now.
Profit order for now $ 104.75 but we may adjust this later again. If we buy in weakness more, then we change the profit order slightly.
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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.