ArcusFX
Long

USOIL is on the month keep supporting area

TVC:USOIL   CFDs on WTI Crude Oil
162 views
1
$20 could be the turn around for US as we could see a bounce back up to $40 from this region.

Price is wicking down to the $20 dollar region and instantly rebounding.

Possibly opec to cut production. Back to $40
Comment: entered at 19.83 as my broker uses a different chart. It is the same as the $20. Seen a good rejection
Comment: Stops well in profit with 1/4 of my position taken off. Watching the $28 region as it is the first obvious resistance.This surge is on news of Saudi Arabia and Russia cutting barrels by approx 10 million barrels.
Comment: Broke straight through $28.00 Region Looking for a break and retest. My next key region I will be paying attention to is the $33.00 this is where my 200 ema is at as well. Happy weekend!
Comment: What really triggered this bull run was the Donald's tweets. Leaving it over the weekend. Trump's tweets were reckless IMO and prices could reverse but technicals look strong to reach $40.00 next week. I will be monitoring on Sunday and making sure I take some more of my position off.
Comment:
Price has stalled at the $28.00 Region. I see this as a consolidation to go higher. Expect some sort of wicks down in the $26.00 region for price shake out the longs with tight stops. I expect $30.5 region next key resistance.
Comment: OPEC news suggesting 10 million barrel reduction. Price went close to my stops but missed. Waiting for daily closure.
Comment: OPEC meeting today. I have ensured My stops are in profit

Comments

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