OIL USOIL Trading Idea for IW21 (22/05/2017)

OIL is approaching deciding point soon at around $51.60 Resistance area.

I am bias toward Long at this.

Watch for this Wednesday Crude OIL Inventories Data.

If it break OIL shall heads towards $55 else it will retrace back to below $50
** Breakout skillz can be used here.

Trade Safe :)

Trade active:

OIL entered to resistance area $51.60

Breakout or Falls

Tonight crude oil inventory and Thurs OPEC Meetings will decide direction

Comment:

So OIL didnt break out :)

Resistance hit, now retrace back to $48 level

Due to disappointment in OPEC's production policy :D

Trade closed: target reached:

Support at $48 level