With a turn on my stochastics settingsto the up side. I’ll wait to trade oil back up to previous resistance. If oil can break through and settle above 55.80 it’ll be a bullish sign that price will continue up to 58.00, providing a 220 Pip profit with a stop loss of 35 pips.
USOIL
USOIL
Comment:
With news of an Iran backed drone attack on one of Saudi Arabia’s biggest oil production facility reducing oil output by 1.5 million barrels a day. Is also escalating tensions in the Persian gulf of more military attacks on oil fields. The market wil push oil prices up, so this trade looks even more promising. But don’t buy at early opening as whipshaw will hit hard at beginning of trade. But I’ve got a feeling oil will be bullish this coming week. Good luck trading.