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01.02.2023 02:13 PM
Trading tips for oil

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Due to the warm weather and oversaturation of the LNG market in Europe, oil prices fell more than three times since last fall, breaking through the important technical level of 3.5. Despite this, there is a chance for a price increase as winter is not over yet, and any cooler weather will bring up the demand for gas, which could be an easy profit.

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So, starting from the current prices, traders can set a grid of buy limits in increments of 300 pips. Exit the market upon the breakdown of 3.520.

This strategy is called grid trading, which involves holding positions that are significant in time and distance.

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

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
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