September WTI crude is trading right at the 62% Fibonacci macro-wave retracement. Given the reported builds in supply, it is tough to envision a scenario where $65.00 is not tested in the near future.
In the event that we see a sell-off in September crude later this week, a long trade from just above the 78% retracement is a good location to the bull. Here is the trade:
Entry: Buy $65.12
Stop Loss: $64.94
Profit Target: $65.30
Risk Vs Reward Ratio: 1/1
The proximity to the psyche level of $65.00 makes a bump north from $65.12 likely.
In the event that we see a sell-off in September crude later this week, a long trade from just above the 78% retracement is a good location to the bull. Here is the trade:
Entry: Buy $65.12
Stop Loss: $64.94
Profit Target: $65.30
Risk Vs Reward Ratio: 1/1
The proximity to the psyche level of $65.00 makes a bump north from $65.12 likely.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.