This Is Why You Should Watch Important Retracement Levels
I glanced at the crude
oil price. It was nearing 55. In fact I overheard CNBC said “Crude
hits a new high”.
12:05:34 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
OXY | buy at the mkt | pullback | 72.04 | 72.75 | 72.29 |
TK |
I immediately looked at the
15-minute chart of Occidental Petroleum (OXY). It was bouncing off the
confluence of the 20-period EMA (exponential moving average) and 50% retracement
level. The issue looked ready to resume its uptrend. I placed a buy at the
market right away.
12:22:13
Follow up on OXY (Pt 2)
The issue has hit our target. Sell the rest, or move stop to 72.60.
T.Kamada
If you have questions, feel free to
mail them to me.
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