WTI Oil Breaks Into $70 Level - What Next?
Friday June 16th Plan
Thursday Recap:
Crude Oil had an intraday high of 70.93 and a low of 67.94. The day's range was $2.99 (yesterday’s was $2.40), and price finally broke the important 200 ema resistance at the 70.00 level, thus bringing the bullishness that I have been anticipating since the 67.00 - 67.50 swing low.
Discovering the directional bias of the day by using the prompts that were provided in the trade plan is what let me catch this long and I let it ride through the session. I hope the same was for you.
WTI 4 hour:
Along with the added 200 ema, you are able to clearly see the next key level of interest for the Bulls - 71.65. Provided Oil stays above 70.00, this target will be achieved.
Trade Plan!
Strong buying above 70.00, long to the next levels:
- 70.90 , 71.65 , 72.50 , 73.10
Strong selling below 71.65, short to the next levels:
- 70.90 , 70.00 , 69.40 , 67.50
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Thanks for making it this far, I hope to write to you again.
Voila Trading