Hey Guys, This is a very similar setup to my Silver trade were they're showing signs of recovery and possible reversal to continue larger trends. Oil has now re-entered the channel it has been in since March and showing great strength busting past the 150 day MA with the trend line. on the on the smaller time frame it has broken out of its Bull Flag pattern so that means more upside to come. It has burnt off a lot of excess in the RSI giving it room to make a big push to my target at $83.75 target where it should take a breather on that resistance line. There is Still a downward trend line to beat for the move to confirm so possibly wait for that but I'm pretty convinced it will break.
3% risk to 15% reward
With the warrants I'm buying its a:
profit 30%
loss 6%
