Crude Oil – Breakout Play Profits, Hits 105 | Mar 4th
WTI Crude Oil – Breakout Hits 105 Target
On our Feb 27th market commentary, we suggested trading with the trend and watching for a breakout above the intra-day range ~103. On Friday, on the heels of the Russian troop invasion into Crimea, Crude Oil spiked, breaking above the range highs and tagging the 105 target we suggested.
Savvy price action traders profited from this as well in the members forum as we discussed this setup in there. Now the soft commodity is sitting right on top of this range. If this level holds, then a second attack on 105 is likely. A 4hr close below 103 suggests a likely pullback towards 101.50/00.
Ever felt frustrated with trading? Make sure to read our latest article on Turning Frustration Into Learning
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book