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Why I’m buying WTI: O’Hare
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Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is trading WTI crude oil (US June ’17).
He plans to set longs at current levels and on a dip towards $47.00/barrel. The stop is below $46.75/barrel. His targets are a shorter-term target of around $48.00/barrel, but main target is $48.70/barrel.
O'Hare’s technical analysis of a selected trade is featured every Thursday on Trading Floor.