EmpowerTrader
Long

OIL Highly Overbought After Clean Breakout

TVC:USOIL   CFDs on WTI Crude Oil
Trade Idea: LONG Breakout Trade

Oil broke the trend channel yesterday along side the S&P500 and other major indexes. This indicate that the strong bearish run that started back in early October of last year, in which price fall by as much as 45%!, could finally bottomed. If this is the case consider the following trade idea.

Trade Step-Up:

Scenario One: Price pullbacks back to parallel support level . Look for long entry at 50.00

Scenario Two: Price pullbacks back to final support level at the edge of the previous bullish channel trend. Look for long entry between 48.50 to 48.00.



EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out