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TheGoodOil
Where everyday people trade crude oil for profit.
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TheGoodOil

I will be starting the week with a buy position in West Texas Intermediate Crude assuming price continues to move upwards from $51.14a barrel. Stochastic is showing a cross-up and is beginning to converge with price action, a classic sign that prices will rise.

Although recent price action has failed to enter the green demand zone, it is very close and therefore this trade represents relatively low risk with a stop loss set at the $50.00 a barrel level. There is a $3.00 per barrel potential profit (target $53.75 a barrel) against a $0.75 loss potential, giving this set-up a 1:4 risk/reward ratio.

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