Yesterday 09.06.2021 we had mentioned that we expected oil price to fall back after the rise to 70 USD per barrel and it did.
It seems a good opportunity for a long position this morning as Technicals support it. Nothing is certain, we just find opportunities with a higher probability of success.
Speculating for a rise in OIL price per barrel, buying 1000 barrels generates either 668 EUR profit at TP 70.18 USD, or Loss 287 EUR at SL price 69.02 USD.
Stop Loss is set below the lower barrier of the channel as it is estimated that below that level the price will fall even further.
It seems a good opportunity for a long position this morning as Technicals support it. Nothing is certain, we just find opportunities with a higher probability of success.
Speculating for a rise in OIL price per barrel, buying 1000 barrels generates either 668 EUR profit at TP 70.18 USD, or Loss 287 EUR at SL price 69.02 USD.
Stop Loss is set below the lower barrier of the channel as it is estimated that below that level the price will fall even further.
