WTI OIL Long for 77 per barrel

3 ก.ค. 2021

Trend trading the constant rallying in West Texas oil, indicators showing a long opportunity with the S/L and T/P based on x1.25 the 14-day ATR. If oil reaches 77 per barrel, this may be the first time in years that it has reached such a level.

Fundamentals to consider:
- Economies are opening back up, therefore driving demand for oil, up, due to the low production from OPEC prices may continue to rise.
- OPEC meeting on Monday, until the meeting is over is when an entry can be considered. In the event, anything is said that may play with the price.

6 ก.ค. 2021

ออเดอร์ถูกยกเลิก

After OPEC canceled the meeting on Monday, shooting price up to about $77 per barrel, later $78 per barrel early Tuesday morning. After hearing the meeting will be rescheduled I've held on, waiting for a better entry. However, OPEC has now started production to increase, hence the extreme drop in price.
This will have either the following outcomes:
- Price consolidates for a lengthy time.
- Price starts dropping after a period of consolidation.

One thing is for sure, I believe, the price will consolidate.

7 ก.ค. 2021

บันทึกช่วยจำ

As you saw price took a huge hit to the downside. This is why you stay away from the news as much as possible. Money well saved ;)