GULF ETF Testing Final Support level

Risk/Reward: $1 =$7

Trade Background

GULF ETF tracks middle east corporations with strong dividend. With oil price plummeting over the month, it has pushed the this ETF to final support level . Look for positron bounce to the upside, especially oil price recovers soon.

Chart:

GULF ETF Testing FInal Support level by EmpowerTrader on TradingView.com

Trade Idea:

Entry: $19.00 -$19.75d
Stop loss: $18.75

Pro$fit taking:

Exit 1: $21 (9.75% Return)

Exit 2: 22.5 (17.56%)

Leave a Reply

Your email address will not be published. Required fields are marked *