๐ข๏ธ OIL - LONG SETUP! WTI $90.52 -> Target $96 ๐
After a -8% dump on Wednesday, Oil bounced back +3.9% and now reversal is confirmed!
Why I Am LONG Oil?
1. Iran Deal FAIL - War Continues!
Eurasia Group: Chance of a deal dropped from 20% to just *10%*. Chance of a renewed attack is still *60%*. War is not ending = Oil up.
2. Tankers Attacked in Hormuz!
5 ships hit since Sunday, 2 tankers caught fire yesterday. 20% of the world's Oil passes through here. One big attack = $110+ Brent.
3. US Inventory DOWN!
EIA Report: US Crude Inventory *DOWN 865K barrels*. Demand is at a 1-year HIGH.
4. Technical Bounce:
Bounced from Wednesday's low of $88.12, now closed at $90.52. Recovery started from oversold.
*MY TRADE PLAN:*
Pair: WTI / USOIL
Entry:$90.00 - $90.50
Target 1: $93.50
Target 2:$96.00 ๐ฏ
Stop Loss:$87.50
Risk Reward: 1:3.5 - Best setup!
If $96 breaks, next $102 / $110 is open. Eurasia's target is also $110-$125 on escalation.
Not financial advice. Keep leverage low in Oil, it's very volatile with news.$CL
$CLANKER
$SOXS
After a -8% dump on Wednesday, Oil bounced back +3.9% and now reversal is confirmed!
Why I Am LONG Oil?
1. Iran Deal FAIL - War Continues!
Eurasia Group: Chance of a deal dropped from 20% to just *10%*. Chance of a renewed attack is still *60%*. War is not ending = Oil up.
2. Tankers Attacked in Hormuz!
5 ships hit since Sunday, 2 tankers caught fire yesterday. 20% of the world's Oil passes through here. One big attack = $110+ Brent.
3. US Inventory DOWN!
EIA Report: US Crude Inventory *DOWN 865K barrels*. Demand is at a 1-year HIGH.
4. Technical Bounce:
Bounced from Wednesday's low of $88.12, now closed at $90.52. Recovery started from oversold.
*MY TRADE PLAN:*
Pair: WTI / USOIL
Entry:$90.00 - $90.50
Target 1: $93.50
Target 2:$96.00 ๐ฏ
Stop Loss:$87.50
Risk Reward: 1:3.5 - Best setup!
If $96 breaks, next $102 / $110 is open. Eurasia's target is also $110-$125 on escalation.
Not financial advice. Keep leverage low in Oil, it's very volatile with news.$CL
$CLANKER
$SOXS
