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ridethemwaves

New Oil Long Trade Location

Long
CFD Petrolio WTI (TVC:USOIL)  
ridethemwaves  
TVC:USOIL   CFD Petrolio WTI
Beyond Technical Analysis Trend Analysis Crude Oil WTI Crude Oil Futures WTI (CL1!) Oil WTI brent USO UWT DWT SPDR S&P 500 ETF (SPY)
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beyondta trendanalysis usoil cl1! oil wti brent uso uwt dwt spy
Previous Oil long idea did not end up reaching the target - let's try again. Along with my SPY trade idea, I believe oil is due for a nice rally, even if in a counter trend capacity.


Directional Bias: Long
Price Target: 72
Good Entry: Breakout Above 68.5 or another retest of low 66 area.
Risk/Reward: Risk no more than 100 ticks/ 300-600 tick potential reward

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