Long for technical bounce back up to 45 Long

Crude Oil FuturesNYMEX

Description

⋅ Jul 8, 2017 6:30 AM

Support seems to have held up quite well into the close today so i'm looking for a break above 44.4 and then a move towards 45

At that point we will get to the 9 day SMA which should provide a good short opportunity.

So long for a technical bounce on Sunday/Monday and then short at 45

Comments

scalptradr

⋅ Jul 11, 2017 1:11 AM

9 day SMA currently comes in around 45.3

scalptradr

⋅ Jul 10, 2017 4:53 PM

Well the idea was right. Didn't quite get to 45 before the slide though. Didn't expect price to come back up so hard today either but seems related to OPEC jawboning