Oil - Overnight dip has been bought into and there is scope for
Trade Idea
The previous day's bullish engulfing candle led to further buying yesterday.
Afternoon dips were bought into and follow through bullish momentum resulted in the market moving higher.
Previous resistance located at 57.40.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
Preferred trade is to buy on dips.
We look to Buy at 55.50
Stop: 55.00
Target 1: 57.00
Target 2: 57.40
The previous day's bullish engulfing candle led to further buying yesterday.
Afternoon dips were bought into and follow through bullish momentum resulted in the market moving higher.
Previous resistance located at 57.40.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
Preferred trade is to buy on dips.
We look to Buy at 55.50
Stop: 55.00
Target 1: 57.00
Target 2: 57.40
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