The low at the end of March was a good opportunity to buy. All the parameters were "on green":
-TD count reached 9
-the Money flow index indicated oversold
-OBV was around a support line
The first two elements triggered a buy signal in my trading program. Fortunately a good one. THe program now indicated that we need to go out as we have reached the TD count up of 9 and the money flow index is in oversold area.
Normally I would consider going short as we are still below the high of January but with Trump, Syria and North Korea my gut feeling tells me that it is not the right moment to go short. Even though war on the short term lowers oil prices!
Additinoally, the long term picture is turning and investors will realize that the investments of major oil companies will be too little to avoid higher oil prices. Still this is still a very long term view as US will remain to act as the swing factor for the moment keeping the oil price in a nice and tidy trading range.
-TD count reached 9
-the Money flow index indicated oversold
-OBV was around a support line
The first two elements triggered a buy signal in my trading program. Fortunately a good one. THe program now indicated that we need to go out as we have reached the TD count up of 9 and the money flow index is in oversold area.
Normally I would consider going short as we are still below the high of January but with Trump, Syria and North Korea my gut feeling tells me that it is not the right moment to go short. Even though war on the short term lowers oil prices!
Additinoally, the long term picture is turning and investors will realize that the investments of major oil companies will be too little to avoid higher oil prices. Still this is still a very long term view as US will remain to act as the swing factor for the moment keeping the oil price in a nice and tidy trading range.