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Crude Oil – Breakdown!

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 7, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Trading position (short-term; our opinion): Short positions (with a stop-loss order at $39.12 and an initial downside target at $33.66) are justified from the risk/reward perspective. On Tuesday, crude oil lost 2.47% as a stronger greenback pushed the price lower. As a result, light crude extended losses and broke below important support line. What impact could it have on future moves? Looking at the weekly chart, we see that the situation in the medium term remains almost unchanged as the

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