CWEI (Clayton Williams Energy) will trigger a short entry on a break below 84.30 with a suggested stop on a 60-minute close above 87.42. The price targets at this time are T1 at 74.22 & T2 at 69.81 with a potential third target around the 60.70 area, depending on how the charts of both CWEI & crude oil play out going forward. The suggested beta adjustment for this trade is 0.7.
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- CWEI 60-minute Oct 17th
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- CWEI daily Oct 17th
As CWEI is an oil & gas exploration company, a break below the 11.20 support level on USO will help confirm a short entry on CWEI.
USO 60-minute Oct 17th