Due to a lot of request, we are going to start posting charts for Light Crude Oil Futures.
The magical question is oil going to reach 100 by end of this year? All the resistance values are shown on the chart. Today, it hit the first major resistance value and price bounced right off it.
We are technical traders so we are going to let the charts tell us what is going to happen. Right now, no conclusions as far as the direction can be taken. The sentiment is bullish but there is no possible trade at this time. Any trade taken is like “flipping a coin” for a 50/50 chance. We are looking for high probability trades. We have alerts set at 98.15 and 87.79. Once the alerts are triggered, we will look for a possible trade setup.
For EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose .
