WTI Crude Oil: When to Buy
The price broke the uptrend line and gave us a solid bearish signal. The market continues the downward movement, and for us, it will be better not to join this movement, but wait for a reversal and try to catch a pullback.
The 1st support zone will be at 55.00 level. If the price reverses from this zone in the daily or hourly timeframes, it will be possible to buy with stop-loss orders below the local swing low and 55.00 support.
If the price breaks 55.00 support, the 2nd zone will be at 51.00 level. The same reversal signals from the daily and hourly timeframes will be good to open long positions. Of course, we will do it in line with the proper risk and money management.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The 1st support zone will be at 55.00 level. If the price reverses from this zone in the daily or hourly timeframes, it will be possible to buy with stop-loss orders below the local swing low and 55.00 support.
If the price breaks 55.00 support, the 2nd zone will be at 51.00 level. The same reversal signals from the daily and hourly timeframes will be good to open long positions. Of course, we will do it in line with the proper risk and money management.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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