Been long since I touched this, just compiling articles from the net to make sense of whats going on in the Oil market. Feel free give your own opinions.
Venezuela Crisis, Iran sanctions, rising demands, tightening supplies, these factors have drive up Oil prices to their highest level in over three years in May. To address potential supply shortfalls, Saudi...
As described in in the chart, I will be looking at potential reversal in the orange area. Any comments/improvements to my chart are welcome. Looking forward to learning from all of you.
Continuation from previous post, and adopting @pipizer feedback in the comments:
1. The past few days has saw a drop in the price mainly due to reports on OPEC output in October reached an all-time high. This lead to a further decrease which finally complete the Cypher Pattern.
2. A reversal candle (hammer) was formed the following day (14 Nov) with a long tail...
My first trading idea, here to learn from the experts, please give feedback on this idea.
Several Signals I have identified:
1. Cypher Pattern has confirmed potential reversal zone
2. A support level at 45.48 area is forming
3. Still in an long term upward trend
4. Catalyst moving it up would rely on upcoming OPEC deal on production cut
What to do now?
Wait for...
