Oil WTI: At a critical juncture

15 thg 9, 2016

If we don't see bearish follow through within the next 3 sessions we can expect further upside in crude.
I'm long small with a wide stop, and looking to add and tighten the stops soon.

Good luck,

Ivan Labrie.

15 thg 9, 2016

Ghi chú

Good progress. I'll add to longs aggressively on a break of today's high after the close, and will tighten the stop loss to today's low.

16 thg 9, 2016

Ghi chú

Testing lower levels of support. I'm out but will reenter on a new daily high.

16 thg 9, 2016

Giao dịch được đóng thủ công

19 thg 9, 2016

Giao dịch đang hoạt động

Clearly, bulls now in control, let's see for how long.

21 thg 9, 2016

Giao dịch được đóng thủ công

21 thg 9, 2016

Ghi chú

(oil could remain sideways, in a triangle here, but, if it breaks resistance above, it could rally really strongly)

This is when fundamentals kick in, OPEC members will likely fight for market share with higher prices, so we can expect to remain range-bound for a long time.

21 thg 9, 2016

Ghi chú

(buy airlines)

23 thg 9, 2016

Giao dịch được đóng thủ công

Good spot to exit oil longs, maybe half, and buy back lower.

23 thg 9, 2016

Ghi chú

Good time for both the buy, and the sell. We have to wait for 3 days, which matches the open after the OPEC news date.

23 thg 9, 2016

Ghi chú

The Obama news might create some volatility: zerohedge.com/news/2016-09-23/siding-saudi-arabia-obama-vetoes-sept-11-bill-passed-unanimously-congress

I'll be looking closely at oil, to jump back in the long. I expect the trend to turn wildly bullish after we break up from this range. For now, it seems like the monthly resistance needs time to break:



It can break it by the end of the month, or in 2 more months, as a minimum, it can also take more time than that, but when it breaks up, it has between 46% and 140% upside. So, buy dips to the bottom of the range, sell partially at the top.
Price probably won't go too far down due to fundamentals.

23 thg 9, 2016

Ghi chú

*buy dips at the bottom of the range

24 thg 9, 2016

Ghi chú

bloomberg.com/news/articles/2016-09-19/at-500-million-a-pop-it-s-an-oil-gamble-that-has-no-precedent

This might be relevant.