With Oil and Gas stocks continue to rally up form their 2020 lows, and SPDR S&P Oil & Gas Exploration & Production ETF ($XOP) already above its Pre-Covid levels, $WTI rally of +24.06% over the past weeks of trading upon the high volume break of a two weeks consolidated pattern, continue to suggest it is playing catch up relative to the broader sector.
My entry 45.97 /// 5% moderate exposure, starting to build a bigger buy position.
SL 45.20 / Risk 3.5% - pips 77
TP 48.91 / Reward 13.6 - pips 294 / RR+3.8
The bigget channel will be to break the 13EMA on 4H, at price is literally testing it right now.
Later this week we have the OPEC meeting and to me they have been proven to bring excellent pips expecially...