Hi traders, we have a potential bullish setup brewing on the 117 support level. We've had some past support at this level and if we are able to wait for the 8 hr candlestick to close above 117, we could see a potential bullish move towards the 124 level. Be patient.
We have a sell set up for the USD/NOK as higher oil prices support the commodity-linked Norwegian Krone.
We look at entry price, stop loss strategies using volatility analysis.
An overview of a short trade I engaged in using OILD back in April and May, capturing a portion of OILD's 110% increase alongside USOIL's 25% decrease. In addition I talk about the long-term perspective of US Crude Oil.
