Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is trading WTI crude oil (US Sep '17.).

O'Hare plans to set longs at current levels at $47.25/barrel and on a dip to $47.00/b. His stop is a break back below $46.50/b, and his targets are $48.25/b and $48.80/b.

O'Hare’s technical analysis of a selected trade features every Thursday on Trading Floor.