BombayBulls
Long

Trading Crude Oil - Which Way To Go? - 4/22/2016

FX:USOIL   Crude Oil (WTI)
58 0 2
At the beginning of the month we were looking for the opportunities to get long crude, which we got after publishing our last trade idea here. ( please check the linked idea ). Our longs between 35 and 36 have reached its final target of 44. Now between 45 and 50, we are not certain about the price action. We would like to trade according to the following plan.
1.) Quick long trade at these two good support levels - 42 and 40.
2.) Short from resistance near 50 if it goes there quickly.
3.) Slow price action between 45 and 50, then there is no trade and we will be patient for proper levels to develop.
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