USDWTI blew through near term support last Friday and has now fallen to a critical support. Due to the importance of this price level we may see it hold where the near term support levels were not able to hold. If your a contrarian trader and believe that this key support level will give you increased probability of price holding and popping higher in the near future this may be the right time to buy. There are a lot of different strategies to go long oil, a very bullish strategy would be to go long OIL or the futures. A neutral to bullish strategy would be to sell puts in OIL or XLE to collect the high premium that the options are fetching and profit from any move higher.
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Just an FYI - I have short puts in XLE as of last Friday afternoon
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.