I am going long to 45.77 with a stop at 44.32.
2016Sep21 I am going long to 45.77 with a stop at 44.32.
The EIA and API numbers are usually close when the API reports a much larger than expected drawdown or build.
This is really a rather high risk trade for the API and EIA have differed considerably in the past.
I chose my target based on the resistance levels set on 2016Sep08, 2016Aug30. My stop is based on the support
that begins around the 44.32 price level (2016Sep15).
The EIA and API numbers are usually close when the API reports a much larger than expected drawdown or build.
This is really a rather high risk trade for the API and EIA have differed considerably in the past.
I chose my target based on the resistance levels set on 2016Sep08, 2016Aug30. My stop is based on the support
that begins around the 44.32 price level (2016Sep15).
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I exited my position for the number was not that high.
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I am refering to the EIA inventory number for oil. Still made a profit though :)