VietnamGold
Long

OIL - TARGET RECENT HIGH

FX:USOIL   Crude Oil (WTI)
Oil             has had a nice break out candle today to the upside, breaking out of the downtrend line from $51.6 to $39.2/barrel. A 61.8% Fibonacci retrace and a downtrend line should act as a strong resistance but oil             passed by quite easily. This shows that bullish momentum is very strong. Oil             may accelerate fast to the recent high at $51.6/barrel. A retest of the trend line may happen but oil             should rebound quickly to the upside. A long position is recommended now. If oil             retreats to test trend line , I will add one more contract.

Trade Plan:
Buy 1 lot at $46.5/barrel
Target $51.5/barrel
Stop loss under $44.5 (on a daily close)

If you follow me on the oil             trading, you should make a lot of money by now. I have issued a few posts which made excellent profit on trading oil             . First it was shorting oil             from $50 to $42/barrel which made $8/barrel in profit. Then I recommended buying again from $40-$42 till now. Currently oil             is trading at $46.6, that's like $5/barrel in profit. You should make a minimum of $13/barrel in profit total. And that's great. So Stay Tuned Guys !
Comment: Oil is at 48.2 now. It's on its way to $49-$50/barrel. Stay Tuned !
Comment: Took partial profit at $49.2/barrel. I would wait for a pull back to the $45-$46 to buy one more dip. This last trade made profit of $2.7/barrel.
Thank you for your work, I follow your work and have profited from your analysis!
+1 Reply
VietnamGold GregGibbons
I hope you continue making profit on trading oil by following this post.
Reply
GregGibbons PRO VietnamGold
I plan to, I usually sell to soon, you have helped me stay in longer.
Reply
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