FX.co ★ Trading tips for oil

That is exactly what happened this week, when the quote moved up and headed towards the resistance level of 71.5.

This means that traders could now close part of the long positions for profit.

Huge congratulations to those who followed the strategy as the price movement was as much as $5!

The trading idea was based on the "Price Action" and "Stop hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.