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tomstewy

Oil Breaking To The Upside

Long
US WTI Crude (Spot) (XTIUSD) (FXOPEN:XTIUSD)  
tomstewy  
FXOPEN:XTIUSD   US WTI Crude (Spot) (XTIUSD)
Trend Analysis
7
6
trendanalysis
Oil is breaking to the upside from previous highs. Technically this is a clear breakout trade, with stops below the last daily swing low.

Oil contracts are generally paying a positive swap long currently, making long positions attractive for traders.

Additionally the supply for oil is tight, demand is high.
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