Oil Long based on current trade signal from open range breakout
Oil Long based on current trade signal from open range breakout - however we have stalled and are looking to keep support above the open F0% 89.70. or bounce or fake out at the current weekly low of Week S1 89.43 - the green horizontal line. The Ideal target f100% 91.57 which is also confluent with a retest of resistance at 91.50. Above this we can see the monthly high of 92.94 the red horizontal level.
If we break short and sell off below 89.43 - f100% 87.83 area is the ideal target along with the monthly level 88.18
the green horizontal level.
It may take one or two days to get to those levels - or quicker if we see a full day range - of 187 ticks or more today acquired today.
These indicators are available in Charts > Indicators > Market Place Add-ons > MicroTrends
more details of the indicators can be found here: indicatorfactory.com/tradingview-indicators/
If we break short and sell off below 89.43 - f100% 87.83 area is the ideal target along with the monthly level 88.18
the green horizontal level.
It may take one or two days to get to those levels - or quicker if we see a full day range - of 187 ticks or more today acquired today.
These indicators are available in Charts > Indicators > Market Place Add-ons > MicroTrends
more details of the indicators can be found here: indicatorfactory.com/tradingview-indicators/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.