USOIL/OIL Long Idea

24. Juli 2020

OIL is currently on a daily supportive trendline, presenting an opportunity to open long positions. However, it would be safest for bulls to wait for a break and retest of the key zone marked on the chart. A stop loss can be placed a few pips below the supportive trendline, with a first target at the previous high. Traders should use proper risk management and only open positions if the trade is valid in accordance with their strategy.

Be sure to follow me for more ideas and analyses. Leave a like and a comment with your thoughts below, all input is appreciated.
Best of luck traders!