UWTI could run up to the 8.15 level & quite possible the 9.55 area, should my call for a drop in the $USD continue to play out. Such a move would provide gains of about 20% & 40%+ from current levels. I’ve just taken a starter position & plan to add only on strength and only if/when the 13/33 ema pair signals a bullish cross to indicate that the near-term trend has changed from bearish to bullish.
UWTI 60-minute Nov 19th
UWTI will be added as an AGGRESSIVE long trade idea at current levels (trading at 6.81 now) with the first & sole price target at this time at 8.10 (5 cents below resistance). Should the charts begin to firm up, I will likely add an additional price targets just below the 8.68 & 9.55 resistance levels. There are several energy stocks setting up bullishly that I might also add as unofficial trade ideas in the Trading Room later today.