Last week, after a short increase, crude oil price opened this week with a large gap down.
With the current data, it seem likely that prices could break though the conditions of the million-dollars-pattern (condition price 66.164)
However, because prices are still in the initial wave, it’s very possible that the first recovery could be quite deep.
You can consider entering order around 67.2 with a small size and set a standard stop-loss at 66.0.
Especially, remember to adhere to risk management principles to generate consistent and sustainable profits.
Wishing investors smart and effective strategies! Stay tuned for the next crude oil price updates.
By. Pham Thanh Bien
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