OIL long idea

TVC:USOIL   CFDs on WTI Crude Oil
160 4 8
tp: 60.00, 66.80

Related Ideas

Rectangles are consolidation continuation (of the prevailing move prior to formation) patterns.
And its formed on top of a flat topped triangle (bullish).
And there is a solid uptrend which will intersect with your rectangle base in a few more days.
There is currently about $0.50 premium for May over April and May appears to have held $53

I think your stop could be closer $52.50 to improve your risk reward and you save some ammo to re-enter later

So we agree and I like your chart although it is a different analysis to mine.
... just my 2c worth
NIEZU Oh_If_Only
@NIEZU, wait and check the UKoil price go up or down...
NIEZU Oh_If_Only
@Oh_If_Only, stop lose below 51.50 will be more reasonable.
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