Oil - Buying dips within the short term channel
Crude Oil is Bullish - We look to Buy at 33.65
▪️ Trading within a Bullish Channel formation.
▪️ Choppy price action seen.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ We have a 50% Fibonacci pullback level of 33.64 from 31.28 to 36.01.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 33.68, resulting in improved risk/reward.
Stop: 32.80
Target1: 36.00
Target2: 37.00
▪️ Trading within a Bullish Channel formation.
▪️ Choppy price action seen.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ We have a 50% Fibonacci pullback level of 33.64 from 31.28 to 36.01.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 33.68, resulting in improved risk/reward.
Stop: 32.80
Target1: 36.00
Target2: 37.00
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