"Never catch a falling knife." - Pick it up from the ground when it's already lying.
This is what I'm going to do here.
After the two-week frustrating bottoming pattern it looks like oil is starting a rally today.
OPEC meeting finished today though there is no production cut the chart is showing bullish signs:
-The trendline is broken today:
-Price broke above the 10 EMA and I think the daily close will be above the 10 EMA too.
- MACD crossed over at extreme levels
- RSI left the oversold zone after tagging the most oversold territory in 10 years.
Notice the indicator extremes on the chart:
We might have printed a multi year low 6 days ago.
The multi year resistance is at 42$. It's still possible after a convincing bounce we will drop to that 42 $ level at the beginning of next year but now my bet is on a multi week rally up to 61-63$ where the 50 EMA is.
The 2017 range high is at 54-55$ that is the level we need to break for higher prices.
This is what I'm going to do here.
After the two-week frustrating bottoming pattern it looks like oil is starting a rally today.
OPEC meeting finished today though there is no production cut the chart is showing bullish signs:
-The trendline is broken today:
-Price broke above the 10 EMA and I think the daily close will be above the 10 EMA too.
- MACD crossed over at extreme levels
- RSI left the oversold zone after tagging the most oversold territory in 10 years.
Notice the indicator extremes on the chart:
We might have printed a multi year low 6 days ago.
The multi year resistance is at 42$. It's still possible after a convincing bounce we will drop to that 42 $ level at the beginning of next year but now my bet is on a multi week rally up to 61-63$ where the 50 EMA is.
The 2017 range high is at 54-55$ that is the level we need to break for higher prices.
Catatan
We are breaking the down trendline.Catatan
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Adding to the position .Catatan
Watching the
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50 MACatatan
I’m closing the extra longs what I added at 45Catatan
Catatan
Sell at the euphoria, buy in the panic.Trading ditutup secara manual
Price : 59.43
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Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.