WTI: Buy Opportunity in the Bearish Market

It is a very hard period for the oil market. But the price can't fall all the time, and there is a bottom in this market as well. What does it mean for traders?

It means that it is the right time to search for the possible reversal from the bottom. It can be short term trading based on an idea to catch a pullback. It can be an attempt to catch a possible correction or even a trend reversal. There are different variants of how to get profit from the oil market. We have to search for buy opportunities.

Here is a possible trading plan for buying, and it is based on a price reversal from 20.00 support. It is a round-number level, and it can become the bottom. Also, the market gives us a bullish divergence. It is a trend reversal signal. Probably the market won't start a new bullish trend as fundamental factors playing against the market. But a short term upward movement will be possible.

If the price breaks the local downtrend line, it will be a buy signal with stop orders below the support and the local swing low.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.