Oil weekly/daily, short term buy, long term sell (in comments)

9 thg 3, 2017

After US positive data, China possibly lowering demand and inventories with an Oil flood, the 50-55 range was broken, though these prices under 50 do not really benefit shale producers or OPEC (and therefore could not be 100% sustainable if demand doesn't decrease further), we could have a longer dip to $46 (watch weekly chart I will share) and then maybe a recovery. Fundamentals are as volatile as the market so hardly any prediction can be too exact right now.

9 thg 3, 2017

Ghi chú

So, all else being equal, in the weekly it also looks like we could have further downside to $46 meeting other technical points that are becoming attractive.

9 thg 3, 2017

Ghi chú

9 thg 3, 2017

Ghi chú

A change to normal scale (suggested by an user in the chat) could support even more the short term bullish case to around the 51.6 resistance

13 thg 3, 2017

Ghi chú

First movement accomplished

13 thg 3, 2017

Ghi chú