Fundamentals support rising USoil in the near term (although higher time frame charts show a rather flat/ranging movement lately). Setting up a buy stop order above upper BB, with TP at current R1 fib line and SL at base fib line.
oilprice.com/Energy/...0-Or-Down-To-30.html
www.cnbc.com/2017/02...p-in-stockpiles.html
D:
W:
Confidence: B (mixed sentiment about oil because current fundamentals might not be sustained ; also more production of shale and USOil is still in ranging; must be extra careful not to get whipsawed)
oilprice.com/Energy/...0-Or-Down-To-30.html
www.cnbc.com/2017/02...p-in-stockpiles.html
D:
W:
Confidence: B (mixed sentiment about oil because current fundamentals might not be sustained ; also more production of shale and USOil is still in ranging; must be extra careful not to get whipsawed)
Trade closed manually:
Buy stop order was hit but manually closing it now to lock in gains.
Related Ideas
US Oil Long
aiza_belle
about USOIL
But unless oil continues to shoot up past 55.00, I won't enter another buy yet.