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USOil | New perspective for the week | Follow-up detail

已更新

Following the reversal of Covid-19 policy — the Chinese manufacturing sector posted its biggest improvement in more than a decade last month, service/activity is climbing and the housing market is stabilizing. Economists speculate that the reopening may see Chinese oil consumption hit a record high this year and It was indeed a positive week for the oil commodity with data showing demand figures hitting a record 101.9 million barrels per day this year. In this video, we highlighted from a technical standpoint trading opportunities for the incoming week.

00:50 Reference to last week's daily commentaries and results
04:25 USOil Technical analysis on Daily chart
07:40 USOil Technical analysis on 4H Timeframe against next week
08:44 Conclusion on next week's expectation for the USOil

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

交易進行

A bearish gap is observed... Looking forward to a breakout/retest of the channel for trading opportunities.

Good MOrning

交易進行

Secure sell position as price action breaks down the $79.00 level

交易進行

After been taken out of the sell position at break even, buy stop order triggered at the breakout of the $79.40 level. Secure position

交易進行

Secure all buy positions as the second position is triggered

交易進行

Secure buy positions as selling pressure resume

Good morning

交易進行

Structure identified during our morning live session today

交易進行

Price action breaks down the trendline for the first time to signal a bearish expectation. waiting for confirmation for trading opportunities

交易進行

Secure all sell positions

交易進行

How price action reacts to the $77.50 level will determine if we are going to continue with a sell position

交易結束：目標達成

Approximately 400pips in profit (2 positions) as price action hit TP target at the $77.50 level. A further breakdown/retest of this level will welcome new positions.