GhostSquawk

Take some profits in oil trade - #oott

Long
TVC:USOIL   CFDs on WTI Crude Oil
Crude oil prices has been driven primarily by war risk and that has helped it to stay in the 90 handle for some time now. But as the market beings to digest everything and tension wines down abit, we anticipate that traders will use this opportunity to take some off. Which is why short term, we felt a pull back in the price of oil is a likely scenario. If we are wrong or if a headline cross the market, shorts could get slaughter easily as oil shoots above 100 per barrel. However, if things remain as they are, we can see oil pull back to some support levels at 89.30, 87 or even 84 area.

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