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OIL BINARY PUT OPTION – MAY 12TH 2015

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By: Adam Stone
May 12th, 2015 6:56am GMT, London UK
Today’s Binary Options Trading Strategy:
Commodity: Oil
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary put options on rallies above 59.00
• Upside Potential: The downside potential for this binary put option is 720 pips to 51.80
• Downside Potential: The upside potential for this binary put option is 355 pips to 62.55
Oil is currently retreating from its false breakout above its horizontal resistance level which reached an intra-day high of 62.56 on May 6th 2015. This level also represents the point where the ascending resistance level of its bullish price channel has exercised downward pressure on this commodity. The ascending resistance level can trace its origin to its intra-day high of 56.66 which was recorded on April 15th 2015; the ascending support level emerged from its intra-day low of 51.80 reached on April 14th 2015. Oil has broken down below its bullish price channel which initiated a change in momentum.OilPrice action is now trading inside of its horizontal resistance level which is being intersected by a steep descending resistance level which has also crossed the ascending support level of its bullish chart formation. Oil is anticipated to recede until it reaches its horizontal support level. Binary options traders can take advantage from the expected corrective phase with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 59.00 for a risk/reward ratio of 1.0/2.03.This commodity was exposed to a contraction in volatility as it advanced inside of it bullish price channel, but the breakdown below it has invited an increase in volatility which is likely to advance further. Buyers are anticipated to force a break-in into its bullish chart formation in order to enjoy further upside potential. Sellers are likely to take the change in momentum which occurred after the breakdown below its bullish price channel and force more downside; a breakdown below its horizontal resistance level is set to initiate the corrective phase. This favors binary call options in Oil.

Oil will face its first support level at its intra-day high of 58.61 which was recorded on April 20th 2015. This level marks the low end of its horizontal resistance level and therefore a crucial trading point for this commodity. A breakdown below this level will take Oil to its intra-day high of 56.66 which was reached on April 15th 2015. This level represents the origin of its ascending resistance level. The next support level awaits Oil at its intra-day low of 53.55 recorded on April 15th 2015 which marks the top end of its horizontal support level. The final support level is located at its intra-day low of 51.80 which was reached on April 14th 2015.

The following economic data out of the United Kingdom is expected to impact Oil:
Annualized Industrial Production & Manufacturing Production for the month of March:
• Expectations: A annualized increase of 0.1% is expected in industrial production for the month of March, an annualized increase of 1.0% in manufacturing production
• Previous Report’s Data: A annualized increase of 0.1% was reported in industrial production for the month of February, an annualized increase of 1.1% in manufacturing production
• Impact on Oil: The anticipated increase in annualized industrial production as well as manufacturing production is unlikely to support a stronger price in Oil which favors binary put options in this commodity

In addition the following economic report out of the United States is expected to impact Oil:
NFIB Small Business Optimism for the month of April:
• Expectations: A level of 96.0 is expected for the month of April
• Previous Report’s Data: A level of 95.2 was reported in the month of March
• Impact on Oil: The expected increase in NFIB Small Business Optimism is unlikely to apply upward pressure on this commodity; this favors binary put options in Oil

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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