justatrader

WTI Crude is looking bullish to $38, maybe $40

FX:USOIL   Crude Oil (WTI)
404 6 5
Price gapped up from Friday's close. A bullish close today could see some upside momentum in prices to $38 where an immediate pending resistance sits. Support at $35.27 without a break below Friday's low of $34.26 could see some favorable RR long set up.

No set up yet, but will be looking for longs on a test to $35.27/$35.30 on a lower time frame chart, targeting $38 with a partial position open targeting $40. Invalidated if price crashes down below $34.26 on a daily close (not a low).
Trade active: Trade in play... few minutes ahead of DOE weekly report
i reckon the gap is filled first, no?
Reply
Maybe/Maybe not. That's why "Invalidated if price crashes down below $34.26 on a daily close (not a low)." So a spike down can't be ruled out
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jangseohee justatrader
alright
snapshot
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Like this....
snapshot
+1 Reply
So far it hasn't release support, but are you referring to a higher prior close or just bullish in general?
Reply
It should be coming down to test the support before moving higher. Overall, the trend is still down, no significant bottom being made yet. But of course, depends on how price will test down to 34.5 support.
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