PA is going down again, appears to be bearish this month with support around $47-$47.50 area
Summer across the board, making all kinds of fake moves possible. Oil is not an exception, having hard times deciding what to do next. Time to focus on a big picture. It looks like on Tuesday, August 1st folks were reestablishing their short positions, which were closed at the end of the month, the day before. Hopefully it was a "technical" move and we will...
cl headed down towards 48.35 update
trading cl with EW , possible scenarios update , exited long pos
Bears had a grand opportunity today to sell it off under $48 but we held. If we can break $49.65 level I think we have a good shot at $50++ this week
Yesterday, Oil fell 3% from a Sell Zone that I mentioned in my weekly newsletter (#WeeklyMarketsAnalysis on Twitter) and in my IG account. The bearish reaction to the Sell Zone confirms that there are sellers between 49-50$ . Today we see a bullish pullback that drives Oil back into the Sell Zone, now testing the 200 days MA line as resistance. This is a...
long target to 52+ , trading with EW
Doubtful. From the WJS today, the run up to $50 signals the "latest sign of renewed confidence in the oil market". Perhaps only to the financial news media charlatans and that cabal of energy-sector leveraged lenders. Anyone who thinks we are on the cusp of an inflationary period now has to grasp for evidence in the prognostication from the entrails of slaughtered...
I don't have crystal ball and I am actually doing this mainly to see the personal accuracy of my charting skills. If you have opposing views, perspectives, etc feel free to share. Trying to take my skills to the next level.
Published this idea last night but was put private the will be a very slow profit taking to the downside.
Commercials are selling and price starting to show momentum weakness, also 5y seasonality pointing lower.