USOIL-BUY strategy
The market tries to create the feel that we are moving lower. the cloud support at 94.70 is nearing and then next we have Fib. support somewhere below $ 88.00.
It will be difficult for me to go short purely because fundamentals have not changed. The only thing is, US interest rates developments causing a slowing down of US economy, but on other hand still energy crisis, right?
For now, with low stochastic, I think we should be in buying mode between $ 95-100, a wide range to select from, and take profit above $ 120 for now. Stop-loss I prefer below $ 85. The risk is only between $ 10-15 and a pickup of $ 20-30.
In this market it is wise to place stop, because if further unwinding of contracts take place, bot because of fundamentals, but due to forcing longs out, then yes, be safe on that side keeping a stop-loss in place.
It will be difficult for me to go short purely because fundamentals have not changed. The only thing is, US interest rates developments causing a slowing down of US economy, but on other hand still energy crisis, right?
For now, with low stochastic, I think we should be in buying mode between $ 95-100, a wide range to select from, and take profit above $ 120 for now. Stop-loss I prefer below $ 85. The risk is only between $ 10-15 and a pickup of $ 20-30.
In this market it is wise to place stop, because if further unwinding of contracts take place, bot because of fundamentals, but due to forcing longs out, then yes, be safe on that side keeping a stop-loss in place.
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