Buying Opportunities Continue in Crude Oil

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Crude oil – bullish trend in oil continues

As we discussed in this week’s weekly trade setups analysis, crude oil has been trending higher and we have been looking to buy in line with that trend. As we can see in the chart below, the price of West Texas Intermediate crude oil remains buoyant above the support level at $49.30 a barrel, a level we have been looking to buy from or near recently.


From here, we would ideally wait for a clean price-action buy signal before recommitting to a long position, for those not already long. More experienced ... (read more)