Good day and good luck. Expected risk/reward of this trade is great.

Buenos días y buena suerte. La expectativa R/R de este trade es fantástica.

OIL Trade (USOIL)

Waiting for low risk entry points are key for a solid money management strategy in the long run.

Esperar para conseguir oportunidades con menor riesgo de entrada es fundamental para tener una estrategia de gestión del dinero sólida a largo plazo.

Risk/Reward: 1 to 10
Avoid trades with less than 1 to 3 R/R Ratios.

Simple technical analysis: Key level presented.

US production (USOIL) nearly at 11m p/d.
Investors starting to worry that an over supply will be met with less demand globally.
Stockpiles are also increasing.
From here I would expect a decline to around $58/57 before a pull back to around $61-$63.
If the fundamentals align this would allow institutions to flush out longs to around $55.
If production keeps increasing OPEC will start wanting to cut supply, hence a bounce back around $55

Niveles clave resaltados. La producción de USOIL cerca de 11M p/d. Decremento de la demanda y aumento del stock de barriles. Potencial bajada con posterior pullback hasta los 61-63$. Posteriormente y en base a los fundamentales, podría testear los niveles de 55$

This post is for informational purposes only.
Good trades and good luck.

You might be also interested in:
Trading Litecoin 3 to 1 R/R.
BTC technical analysis
ETHEREUM technical analysis

Thanks for Reading!