| Videos | Channels | Search |
The potential bullish flag in crude
Steve O’Hare from First 4 Trading is looking to buy a dip in to oil, as the price action since the July rally is "clearly forming a bullish flag".
His main focus and confirmation will be on the break up through the flag top, which currently sits at 108.40. The bottom of the flag is supported by both the 50-day moving average and the Ichimoku Cloud.
As a result, Steve is looking to buy one unit at 103.00 and two units at 102.20, to place a stop Stop below 100.00 and his targets are 108.00 and 120.00.
Read more about Steve's predictions here:
http://www.tradingfloor.com/posts/trade-idea-buy-oil-bullish-flag-forms-1866862961
01:05 minutes
Tags: brent crude, bullish flag, commodity, commotities, crude oil, first 4 trading, ichimoku cloud, investing, investment, markets, oil, price action, risk perception, saxo bank, saxo tv, steve o'hare, trade idea, trade management, trader, trading, trading risks, tradingfloor.com, video