Oil makes for an excellent Short Part 3
The 200 DMA is currently serving as resistance after an epic run. Even if this becomes a bullish trend change, nothing goes up in a straight line and vice-versa. It is due for some consolidation to continue going higher.
Example Trade:
Short: 83.40
Tight Stop Placement: 83.60
Scenario 1:
PT 1: 81.5-81.70 (prior resistance turned support represented by the white line).
PT 2: 79.5-79.75 (Another prior resistance turned support area)
PT 3: The 50(green) or 20 day(yellow) moving average (whichever is higher)
Scenario 2:
Short: 83.40
Tight Stop Placement: 83.60
PT 1: 81.5-81.70 (prior resistance turned support represented by the white line).
In Scenario 2 it's highly possible OilWTI will not break the first support line and instead will simply consolidate below the 200 DMA to build up enough "energy" for the next leg up.
Example Trade:
Short: 83.40
Tight Stop Placement: 83.60
Scenario 1:
PT 1: 81.5-81.70 (prior resistance turned support represented by the white line).
PT 2: 79.5-79.75 (Another prior resistance turned support area)
PT 3: The 50(green) or 20 day(yellow) moving average (whichever is higher)
Scenario 2:
Short: 83.40
Tight Stop Placement: 83.60
PT 1: 81.5-81.70 (prior resistance turned support represented by the white line).
In Scenario 2 it's highly possible OilWTI will not break the first support line and instead will simply consolidate below the 200 DMA to build up enough "energy" for the next leg up.
交易進行
OilWTI firmly rejected at the 200DMA. It now has a date with the 20DMA. Stay short!
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。