USDWTI - Bullish bias and looking for opportunity to get long

21 במאי 2018

USDWTI has had a great run up over the past few weeks. It was blasted through each resistance level and continues to march higher. In markets like these we do not want to play chicken with a freight train, which means we do not want to go short at all. Right now we want to look for any opportunity to get long. Price has slowed within the last few days and is showing some signs of exhaustion. We want to be looking for a price pullback into the 69-70 range and then a large, clear, high quality bullish price action signal to form. Prudent traders will be watching this area for bullish patterns to form and be ready to pounce on the opportunity if it comes.