With the expiration date a few days behind us it might be a good strategy to buy the dips now and hold for $52-$53 but the risk is that bears are not done yet with Oil so bulls might want to wait a few more days.
Chart: USOil D1
Tuesday, October 20, 2015
Crude Lower
Crude oil reached as low as 45.76 in today's trading session and is currently trading at 46.30. Technically, it is still far from its support line at 45.10 so a sharp sell-off could be expected until it reaches this buy-zone and bulls take advantage of the commodity.
With the expiration date a few days behind us it might be a good strategy to buy the dips now and hold for $52-$53 but the risk is that bears are not done yet with Oil so bulls might want to wait a few more days.
Chart: USOil D1
With the expiration date a few days behind us it might be a good strategy to buy the dips now and hold for $52-$53 but the risk is that bears are not done yet with Oil so bulls might want to wait a few more days.
Chart: USOil D1
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Great assessment, will keep it in mind!
ReplyDeleteBut still in an upward channel!
ReplyDeleteOil under pressure.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteInteresting analysis.
ReplyDeleteVery useful analysis.
ReplyDeleteAs always, very detailed analysis.
ReplyDelete