UKOIL LONG

3 potential areas of interest on oil today where I will look for price to get absorbed. if it does - i will look to go long.
from weakest to strongest price levels -
1. 82.03
2. 81.76
3. 81.32 (strongest)

Kommentera:

so I have been studying historical profiles and I have been observing quite interesting stuff there. refer the chart attached - inside it I have pasted same UKOIL profile from Q1 of 2018. almost similar profiles and movement there. there too fresh week's price opened out of value and pushed up, didn't pullback. this week same thing happened. so if this is to continue, I believe the price today will not pullback to my intended level and will keep on to the long side.
I have planned for this scenario. if price is to hold above 82.99, I will look for long entry. I will not risk anything on it as it is something that I am still testing out. I will however mark this up and journal it.