The crude oil markets are on the bear today, with WTI falling nearly 2% for the session. A few reasons for the chaotic price action are reports of an Iranian nuclear deal, Russia/Ukraine, and WTI futures rollover. Right now, this market is in flux. For now, the key number in April WTI futures is the weekly 38% Fibonacci Retracement ($88.95).
Here's the scalp:
1) Sell $88.89
2) Stop loss at $89.06
3) Profit Target $88.72
Here's the scalp:
1) Sell $88.89
2) Stop loss at $89.06
3) Profit Target $88.72