Monfex_UK

WTI Oil: Bulls are in charge of the situation

Long
TVC:USOIL   CFDs on WTI Crude Oil
Hi, Traders ! Monfex is on the air !

WTI Oil Bulls are taking on fresh attack on 200 Daily EMA - at around $57.

* The Bulls remain in control over WTI prices, taking actions to break through 200 Daily EMA .
* Monday's Doji ( bearish ) candle with long upper shadow was immediately engulfed by the next day's price action.
* Break and close above $57 would be the confirmation of the persisting bullish momentum that had started on the 3rd of October.
* Fresh optimism about US-China trade agreement, and less fears of declining global demand due to a trade war, maintain oil prices.
* Market will also focus on crude inventories data released on Wednesday. Inventories are expected to rise by 2.7 mln bls, compared to previous week's build of 5.7 mln bls. If inventories come at or below the forecast, this should push oil prices upward.

Active trade signal

Buy @ $56.5 - $57.
Nearest Target: $60.
Stop-loss: $55.80.

Watch for our Updates to get real-time superior signals!

GOOD LUCK AND LOTS OF PROFITS !!

Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out