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ITM.Trading
Mar 23, 2015 3:16 PM

Quadruple Bottom Long

Western Midstream Partners, LPNYSE

Description

The lack of clarity in the ADX and stable OBV show that WES is suitable for a range trading strategy.
As such, a long at the current quadruple bottom combined with a crossing MACD is appealing for a long entry.
A stop below the recent lows and price target of the 50% fib or higher is appropriate.
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