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OIL COMMODITY BINARY OPTIONS PUT – JUNE 10TH 2015

BitCoin/CNY 6263.480 23:00 17.01
NZD/JPY 81.341 23:00 17.01
AUD/USD 0.75578 23:00 17.01
AUD/JPY 85.251 23:00 17.01
EUR/JPY 120.804 23:00 17.01
USD/JPY 112.794 23:00 17.01
EUR/USD 1.07108 23:00 17.01
AUD/NZD 1.04809 23:00 17.01
NZD/USD 0.72115 23:00 17.01
CAD/JPY 86.467 23:00 17.01
GBP/JPY 139.897 23:00 17.01
BitCoin/CNY 6264.060 22:30 17.01
NZD/JPY 81.294 22:30 17.01
AUD/USD 0.75594 22:30 17.01
AUD/JPY 85.194 22:30 17.01
EUR/JPY 120.721 22:30 17.01
EUR/USD 1.07112 22:30 17.01
USD/JPY 112.707 22:30 17.01
BitCoin/CNY 6191.350 22:00 17.01
AUD/NZD 1.04843 22:00 17.01
NZD/USD 0.72165 22:00 17.01
CAD/JPY 86.347 22:00 17.01
NZD/JPY 81.262 22:00 17.01
AUD/USD 0.75675 22:00 17.01
AUD/JPY 85.208 22:00 17.01
GBP/JPY 139.822 22:00 17.01
EUR/JPY 120.657 22:00 17.01
USD/JPY 112.621 22:00 17.01
EUR/USD 1.07137 22:00 17.01
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By: Adam Stone
June 10th, 2015 4:58 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 60.60
• Upside Potential: The downside potential for this binary put option is 410 pips to 56.50
• Downside Potential: The upside potential for this binary put option is 90 pips to 61.50

Oil has enjoyed a sharp advance off of its intra-day low of 56.81 which was recorded on June 5th 2015. This intra-day low represented a higher low as compared to its previous intra-day low of 56.49 reached on May 28th 2015. The ascending support level which was formed as a result assisted the move to the upside which has now recorded an intra-day high of 60.75 today on June 10th 2015 and is approaching its descending resistance level. A review of lessons learned from binary options trading education suggests that the risk currently remains to the downside.

Oil Commodity Binary Options Trading Education

Price action is now trading inside of its horizontal resistance level from where upward momentum is being depleted. Oil is anticipated to drift to the downside and retrace it most recent advance in order to challenge its horizontal support level. Binary options traders can benefit from the expected contraction with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 60.60 for a risk/reward ratio of 1.0/4.56.

Oil was faced with a decrease in volatility as price action advanced from its enforced support level, but an increase in volatility is anticipated as this commodity is now trading at an enforced resistance level. Buyers may attempt to extend its current advance with a breakout above its descending resistance level as well as its horizontal resistance level, but its previous intra-day high of 61.54 which was reached on June 2nd 2015 is likely to limit any potential advance. Sellers are expected to take its enforced resistance level as a platform to for force Oil into a corrective phase. This favors binary put options in this commodity.

The first support level for Oil is located at its intra-day low of 58.39 reached on May 15th 2015. This level represents the low of a previous false breakdown below its horizontal resistance level. A breakdown below this level will lead this commodity to its ascending support level around the 57.25 mark which is located above its horizontal support level. The final support level awaits Oil at its intra-day low of 56.81 which was recorded on June 5th 2015 from where a double bottom formation may emerge.

The following economic data out of Japan already impacted Oil:
Machine Orders for the month of April:
• Expectations: A monthly contraction of 1.8% was expected for the month of April, an annualized contraction of 1.4%
• Previous Report’s Data: A monthly increase of 2.9% was reported in the month of March, an annualized increase of 2.6%
• Released Data: A monthly increase of 3.8% was reported for the month of April, an annualized increase of 3.0%
• Impact on Oil: The reported increase in machine tool orders has failed to pressure this commodity to the upside; this favors binary put options in Oil

In addition the following economic report out of the United States is expected to impact Oil:
Energy Information Agency Gasoline Inventories for the week of June 5th 2015:
• Expectations: A build-up of 533,000 barrels is expected for the week of June 5th 2015
• Previous Report’s Data: A drawdown of 334,000 barrels was reported in the week of May 29th 2015
• Impact on Oil: The expected build-up in gasoline inventories is likely to apply downward pressure on Oil which favors binary put options in this commodity

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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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