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Crude Oil trading strategy in the next few days

Discussion in 'Trade Journals' started by World-Signals, Apr 14, 2016.

  1. World-Signals

    World-Signals New Member

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    After the bottom of Crude Oil (New York) at 35.22 since 5th of April 2016 started uptrend that continue after the key resistance level of 41.85. The uptrend continues almost 10-days but slowly in the last two days.
    The first resistance level is at 42.40 according to World-Signals.com. If the Crude Oil price breaks above the resistance level the trend may continue next week. In the last business day of the week there are important event for the energy sector - Baker Hughes US Oil Rig Count. (The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers).
    The date is expecting to release at 17:00 GMT and may show the end of the downward movement or slow down the trend starting from 675 in August 2015 to 354 last week.
    World-Signals.com trading strategy is to trade long positions to the price of 42.40 and after the news release to open short positions. If the Crude Oil breaks above 42.40 keep long positions.
    USOIL-14Apr2016.png
     
    StockJock-e likes this.
  2. StockJock-e

    StockJock-e Brew Master
    Staff Member

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    You calling a move down from here?
     
  3. emmanuelglover

    emmanuelglover New Member

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    Awesome information. I remember 2016, it was a lucky year for me. I've made a lot of money playing on the oil stock market. Now the situation is not so good and I prefer just to wait for the end of this crisis. I know a lot of people who suffered big losses because of the lack of patients and lack of experience. I use a trading platform, where I find all the necessary information about the evolution of the market. In case you also would be interested to check out the site I am telling you about, then you can check it by clicking https://www.economist.com/business/2020/05/07/the-buoyant-oil-traders. Stay safe and have a wonderful day!
     
    #3 emmanuelglover, Oct 16, 2020 at 7:47 AM
    Last edited: Oct 19, 2020 at 11:40 AM

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