=> 12 month crude oil breaking out on weekly chart <= The mainstream media head line news will flood us once the price is close to its targets... late, like usual. #CrudeOil #Inflation #Commodities #Gold #Silver
USL could hit $18.50 to fill in the gap. Be careful on news regarding OPEC. Support might be tapped a few times and then price should go up from here. Move stop losses in profit and keep a tight stop loss.
USL Long, option trade with big stop buffer Try to accumulate oil long position at bottom in next two months. Stock Entry: Below 10.4 Stop: 9.6 (down to new low) Target1: 14.2; risk/reward=1:3 Target2: 19; risk/reward=1:18 In option trade, I bought Oct Call Butterfly C11/16/21 (Delta 0.15), limit 0.9; Sell P7 (Delta -0.18) Limit 0.9; Total simulate long 33...
Disclaimer: Not a recommendation to buy or sell.
USL has formed a small double top on the daily.Indicators pointing down. I see two possible targets, both with decent RRR.