WTI Long Opportunity

Jul 6, 2017

Price broke Moving Averages with period 100 and we got a trend reversal signal. After that price moved up and reached 47.00 level. This level could stop and reverse the market. When price dropped from 47.00 level to Moving Average with period 50 we got a buy signal. We could open long trades higher than 46.00 level with stop below 44.50 level. If you did not open the long trades based on this buy signal, the next possible level for buying will be above 47.35. We should place buy-stop orders at this entry level and stop order below the local swing low. If price breaks 47.00 level, probably we'll have up movement to 50.00 level. This resistance level will be good for closing long trades in profit. As for indicators, MACD histogram confirms up movement and DMI allows open long trades.