crude oil inventories

Crude Oil Inventories 24 JUNE 2020

The forecast for this weeks crude oil inventories was 1.2M and the actual outcome was 1.4M basically in line with the forecast and indicating a lower crude price.  We always wait for support or resistance and price was indeed able to break the established support level. We followed our trading plan and entered the first setup short from $38.94, price was able to go down with good momentum and was even able to break a major support area that was in place at $38.50. The trade setup was eventually good for a profit of $900 for the day.

The trading plan we use for the release of crude oil inventories has a tremendous track record and the context of tested and proven trade plans that grow a trader´s equity.There are off course always times that it will be challenging but we always keep disciplined, never let your emotions play any part in your trading! Let the system and trading plan do the job.

Live trade taken in the Live trading room on Wednesday June 24 2020:

I continue to post the live day trading videos on my Youtube Channel where you can find more live trades from the last 5 years, all taken live in our Live Trading Room.

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Hope this helps,

Alexander Soares


Also published on Medium.