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Saturday, 27 July 2019

Slightly shorter term view on oil

So this is my main trade for the week and I'm relatively confident in what I've drawn and it seems like a potentially likely scenario.


The image outlines some potential opportunities to get long and short in the market.


The dotted lines show the resistance and supports which could act to bring this trade to life. If we break the top line, then expect a push higher to the top trendline again - or at least to the previous high. 

Happy Trading!


Update: 
Should probably have mentioned the trendline which is in the narrowest range to the downside is only a potential trend line and not a confirmed trend - there have only been two touches at the moment. 



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