Breakout Short For April WTI Crude Futures
Don’t look now, but April WTI futures are on the cusp of $100.00 per barrel. Is there a washout beneath this key level on the horizon? At this point, it appears a test under $100 is on the way.
Here's how to play the breakout:
1) Sell April WTI futures @ $99.99
2) Profit target @ $99.88
3) Stop Loss @ $100.11
If we see a test beneath $100, then be ready for a rapid washout to the bear. If price goes +8 to +10, move the stop to breakeven. This will be a volatile area.
Here's how to play the breakout:
1) Sell April WTI futures @ $99.99
2) Profit target @ $99.88
3) Stop Loss @ $100.11
If we see a test beneath $100, then be ready for a rapid washout to the bear. If price goes +8 to +10, move the stop to breakeven. This will be a volatile area.
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