Since the CL is circling between 55 and 42 in the last months, I create a new strangle position with 66 day runtime until mid October, selling lower side at 38.5 for a 200 $ premium and higher side 57 for 170 $. Volatility has risen in the last days, which is my main indicator for taking a position.
If 47.50 doesn't hold, the price could re-test 42.50, otherwise move higher..
Nice 1-2-3? Will the ema 200 be bought? Oil should not trade below 47,2 anymore
Hello to everyone, need your opinions for USOIL, I think it's short and personally I'm waiting for a drop. Thanks in advance (Sorry for my english) Igo
Following an extreme drop from the 53 level and clear demand in the 43-46 area, along with a weakening DX yet likely rate hikes later this year, ongoing oversupply, yet continued promises form OPEC to meet the agreed upon cuts, I just do not see a catalyst midterm for a break up or down form the current range. 45.62-50.37 is a range created in '09, a swap zone...
OIL this chart is interesting if seen with the previous one.ie. attached.
Crude Oil SHORT TERM BEFORE EIA Release 9/8/2017 - all short term technicals SMA-200 and CCI related - WIll be long WTI Crude (CL1!) and Natural Gas (NG1!) tomorrow. I will also be watching the EIA Gasoline figures on release and decide from then.
Potential up move for |oil| on the daily chart. Right now |oil| is sitting on support and price consolidation is done. Go |oil| go Cheers, Keops
trading with ew short like and share with your friends :)
Could this further confirm a reason to long USDCAD? watching this now to see where it goes, but it look slike CL1! is down over next month!
Breakout to the upside or continuation downward into oblivion...