Possible bearish bat on closing prices $OVX, $CL_F
Oil looks like its due for a correction. Its VIX is asking for highger levels.
Good short for oil here. Alternatively, if oil falls back into the pink channel, these bottom supports may become the new resistance, sending oil much higher.
Right Angled Descending Broadening
so $DWTI is about to rise along with OVX.
When OVX breaks 40, it'll head to 44 and 52, crude oil goes down to 42
OVX sudah berada disekitar area demand daily, jika mampu break maka cenderung akan berlanjut ke area demand weekly
Watch OVX for confirmation of turn in prices. OVX is often late to the party
Since the beginning of the year we've seen a marked reduction in oil volatility, on both an absolute and relative basis. Could we be poised for a move higher in the weeks ahead?
settling down a bit, evidently price action has as well. MACD, RSI watch
In UNG and USO we see very high impl. Volatility. OVX is near it's high at 70, so it's time to sell some bear call spreads, 65/80 or 70/80 OR naked calls with expiration march or april.