Crude goes on vacation?
Updated
A complicated position, the price of WTI is well supported at this level, however it is in free fall and the most solid support is not until the area of 45.
Is it possible that the price of oil falls further?
And if so, in how much time and after how many bounces?
Questions difficult to answer, despite this it seems that the best position is short or sitting on the bench at least until January.
If the price rises and respects the area of 55, it could mean a change in trend, so it would be important to review the analysis.
What happened to the previous analysis?
The price broke the analysis range in days, so all levels of that time frame are invalid, the price fell much more than my analysis admits. We must never forget that the market is not in a box and that there are factors that can move it beyond the expected parameters.
It could have been a simple mistake, if I had not opened my position ahead of time.
As you can imagine, it was a crazy month.
But it is not the end of the world and I must move forward.
My best wishes for all.
Follow your own plans.
Is it possible that the price of oil falls further?
And if so, in how much time and after how many bounces?
Questions difficult to answer, despite this it seems that the best position is short or sitting on the bench at least until January.
If the price rises and respects the area of 55, it could mean a change in trend, so it would be important to review the analysis.
What happened to the previous analysis?
The price broke the analysis range in days, so all levels of that time frame are invalid, the price fell much more than my analysis admits. We must never forget that the market is not in a box and that there are factors that can move it beyond the expected parameters.
It could have been a simple mistake, if I had not opened my position ahead of time.
As you can imagine, it was a crazy month.
But it is not the end of the world and I must move forward.
My best wishes for all.
Follow your own plans.
Note
as expected...Trade closed: target reached
Beautiful
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