Trade of the week: long WTI crude oil
Discover how to navigate this week's market volatility with expert trading insights on Tesla and WTI Crude Oil. Learn about key support levels and strategic stop-loss placements to optimize your investment strategy.
Current trade overview
This week, we continue to monitor our position in Tesla, maintaining a stop-loss at $373.10 despite recent price drops influenced by competitive pressures from cheaper Chinese AI technology.
Previous trade outcomes
Our recent short position in WTI crude oil was closed just before achieving forecasted outcomes, reinforcing the importance of strict adherence to stop-loss orders. Additionally, our long position in the S&P 500 is back to the entry level after a sharp sell-off, with the major support at 5771 keeping the uptrend intact despite market volatility.
This week’s opportunity
The focus shifts to WTI crude oil, which has approached a critical support zone between $72.50 and $71, identified as pivotal in historical trading patterns. We propose a new long position at around $74 with a stop-loss set at $71 and an upside target near $80, capitalizing on potential market stabilization.
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