Fade the news driven rallye
Owing to the prevailing geopolitical circumstances, the WTI crude oil price has witnessed a notable upsurge in recent times. Nonetheless, it fell short of attaining fresh record highs.
On the past Friday, there was a retracement in the price, accompanied by the emergence of conspicuous hidden bearish divergences in the cumulative delta.
This presents us with a viable opportunity to initiate a short trading position, offering a risk-reward ratio (RRR) of 3.1:1, with the initiation of the recent news-driven price movement serving as the targeted price point.
On the past Friday, there was a retracement in the price, accompanied by the emergence of conspicuous hidden bearish divergences in the cumulative delta.
This presents us with a viable opportunity to initiate a short trading position, offering a risk-reward ratio (RRR) of 3.1:1, with the initiation of the recent news-driven price movement serving as the targeted price point.
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