Currently spread is about 2.8$. Historically it's low figure, we used to 5$-7$. I'm considering to buy spread.
We'll make profit if:
1. Price of WTI rising slower than price of Brent(Brent price rising also)
2. Price of WTI falling faster than price of Brent(Brent price falling also)
3. Price of WTI falling and price of Brent rising
Buy Brent and...
62% of S&P 500 oversold(RSI under 30) + 80% trading below lower Bollinger bands. It's most rapid correction in history. If you believe that trend line and 200 SMA will hold, you should consider buying.
It's pretty simple, it's second entry so check out an initial idea. We want to see if Fibo works))
TP around 110.60(50% correction) with a potential for 100 pips more(61.8% and a volume)
Keep safe and good luck
After a few days of going up(we traded it from 0.7280 in previous idea) i expect some pullback before continuing going north. We can try to trade it with a target of 0.7380.
More conservative play will be using this pullback to go long with a target 0.7450-0.7500
This is how it looks on daily. Keep save and good luck!