Oil has recently hit its new low. It has been following its support trend line the last 2 times. The resurgence of new highs of Covid cases has brought it down. Though this same news has happened in the past, we can infer that this time will not be as worse as the last couple of months in terms of the effect on the commodity.
Expect it to consolidate a bit longer, then buy on the breakout.
If you allot more risk, then an anticipatory trade is also an option.
TP 1: 39.9
TP 2: 40.9
SL: 36.5
Good luck, I'd love to hear your thoughts on this.
Expect it to consolidate a bit longer, then buy on the breakout.
If you allot more risk, then an anticipatory trade is also an option.
TP 1: 39.9
TP 2: 40.9
SL: 36.5
Good luck, I'd love to hear your thoughts on this.