Crude Hitting 2nd Upper Deviation Line On Yearly VWAP
Julie Wade | Apr 16, 2015 06:23AM ET
The Crude Oil Price is hitting the 2nd upper deviation line on the Yearly VWAP, which is flatter than my pancakes. There is no way this is going up to hit the third deviation band right now, imo. So, my better guess at shaking the magic 8 ball would be for price to retrace back to the 1st deviation band at 53.61.
My game plan today is to fade intraday Daily VWAP 2nd and 3rd deviation bands. I am just not a believer in an immediate continuation move. At the very least, this is a great trade because the risk is very small for a great potential reward.
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