Although the RSI signals that the overbought is about to reach, EIA Crude Stocks and Baker Hughes US Rigs Count data are both way less than expected, which gives the market new bull impetus under the background of OPEC+ supply cuts. I hope that the bullish power could test 62 resistance and subsequently the &nbsp;62.56 lower high in September and eventually WTI may conquer the September month highs of $63.38 in 2020.
However, for an instant profit maker, I still follow the trend line and take profit at 62.560.
 
Strategy:
Entry Level:61.8
T/P:62.560
S/L:60.3

Outlook for WTI in the last days of 2019

Dec 01 2020

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