It seems oil has hit a heavy supply zone, I expect prices to fall atleast minutely before a retrace dislaimer:- please note, I am not responsible for your financial decisions in anyway
I'm expecting a short here but either way, if it a 1 hour candle closes outside of the box I will enter a short. For best results, watch for it to close outside of the zone and then re-test the break. Possible trend change longer term as well so you may be able to hold long term (Much longer than the three TP's.
West Texas Oil and Brent Crude Oil are well correlated. Recently we spotted a discrepancy between them leading to overpricing of Brent Futures and under pricing of WTI Futures. Thus we made a synthetic position consist of equal dollar weighted long position in WTI and Short Position in Brent Futures. Trade was initiated on 08 of September and will be closed when...
hello my friends ... 1. reversal pattern forming waiting for breakout follow by continuation pattern to enter short position to T1 2. wait for breakout follow by continuation pattern to enter short position to T2 as shown thank you
If the price goes back to the area under 42.82-43.37 $ then the quotation may decrease for more 4 dollars..Area of support is basically for a good reboot towards area 47$
Oil is hugging the 200 day MA pretty well - The MACD still shows downward movement, however the stochastic is saying to get ready for a change perhaps and the RSI is showing signs of some exhaustion. I'd expect some more sideways movement in the range of 49.30 to 50.10 - but eventually I'm looking to go long again.
Although this might take a bit long, but this is how it is likely to move according to my analysis.
Bullish signals include: >Steady demand >Global inventory declines of 72m since January >Capex slashed year over year since 2015 >Potential for output cuts to come >Instability in the middle east >Rising marginal cost of production.
Dear shorts, I know most of us are extremely frustrated with the situation of OIL in the past (almost) 2 months. Whilst it should have retraced a long time ago, it can't seem to do so. In the early stages of this short trade, mostly technical indicators supported the idea whilst in the past ±4 weeks fundamental factors should cause oil to crash, since despite...
I ended up holding my short position today, still in the hunt for the 40's. Bear divergence still there, RSI trending down towards oversold. Oil seems to be bouncing in between the two light blue bars, watch for a strong break either way. Pair this with my other ideas.
Still short from $54, have not sold or added to my position at all. Blue line: $52 transition line, this line needs to be broken strong for us to head lower imo. Red trend-lines: We've see an increase in prices, with declining RSI. This is a bear divergence.(whether or not it will play it is another story, yet I believe it will) Orange line: This was a bull RSI...
the further out in time we go the smaller the spread between front and back, so thinking the front to out 6 months should narrow so going to take a position on that idea
So I didn't sell any of my $54 oil shorts today when it rebounded, I just moved my stop to break-even. Today we saw a major miss in inventories, which was initially bearish, but was somehow bullish? I'm still short because of the numerous reports that essentially the OPEC "cut" is garbage, and on top of that oil inventories are growing, while demand remains...
Continued idea from previous. 1 - The current trendline looks to be tested within the next few days, look for a bounce (long), or a break (add short). 2 - This red horizontal bar is around the $52 area (key transition area), it broke today, and closing below it over the next few days will be a good sign for shorts. 3 - Most big players got out December 30th,...
1. Lots of deep corrections in this range. Gonna have to break to the up/down side to confirm the next trend. 2. Uncertainty reflected in the price
When I drew the tramlines and fib, they matched. I then noticed the gap between the 61.8% and 50% fibs. If you add in support and assume OPEC will agree cuts next week, then you have five pieces of evidence which point to the same thing.