Oil Trade / Future / Equity : Update

  • Home
  • /
  • Blog
  • /
  • Oil Trade / Future / Equity : Update

The Crude Oil trade has done very well. Three days ago it hit our third support level and then bounced off it. Price moved down too fast so it needed to equalize.
Since Oil is in a pull back mode, we are tightening our stop. We have moved our stop to the first support level which is now our first resistance level (90.66). Our entry was 92.90 and worst case, we will get stopped out at 90.66.
Let’s let the price action tell us what to do. We are trying to get to the 82.89/80.77 support levels.
crude_oil_1_24_08.jpg
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 .