It would appear that the intermediate term trend is going through an ABC correction.
Supply Zone exists in the $53.50-$57 range
Long Term Price Support exists at $54
50% Fibonacci retracement exists at $54
Measured Move exists at $55
Channel Resistance exists at $62
Long(er) Term Price Resistance exists at $63
Short Term trend bearish
I'll go long when I hear "NEW BEAR MARKET FOR OIL?" on the news
Bình luận
Worth noting the decreasing volume on this rally.
Think "B" might be playing out. Currently $62.25
Bình luận
"B" was finally hit. Long term fib resistance there. I entered a short position.
Bình luận
Unbelievably bearish oil report today. Usually don't put a lot of weight in Natgas/Oil reports because they seem to be somewhat inconsistent with how price responds to the report.
I've got to say, I love it when my technicals get supported by fundamentals. Usually the other way around.
Bình luận
Up 14% on DWT, 8% SCO. Exited half on both. Stop loss set for over a 50% retracement and just letting the other half ride.
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.