ridethepig | Oil for the Yearly Close

ที่อัปเดต:
📌 Oil for the Yearly Close

Making the rounds...this time onto Oil and we are going to learn from it by firstly tracking our previous 'before' and 'after' the 2020 fact charts to see how the birth took place. A single glance at the Monthly and Daily is sufficient, from mapping our MT and LT charts, our ancestors, we are able to workout the directional flows in the short-term.

ridethepig | Energy Overbought


Clashing forces on the supply side


This point of view, the crux of which can be proven ultimately by understanding which side occupies the useful pivot. In short, the 63/64 levels which we were essentially tracking as our outpost is the same strong resistance that we are heading back too from the possible thrust.

The strong resistance

Oil finally starting to top...


The strength of this slingshot up lies in the fat that supply shortages are coming into play across the commodity side, OPEC will remain at the mercy to the problematic lockdowns which will continue into 2021 and most likely beyond. This is not an easy one to trade if you are not already holding longs, the test of 51 and 65 look guaranteed as only a matter of time. I would like to anticipate another test of 🔑 support at 33.7x (low chances right now) which would be an appropriate level to once again add longs in cheaper levels should we see it.

Thanks as usual for keeping the feed back coming 👍 or 👎
บันทึก
A good time for a chart update here:

สแนปชอต
ปิดการเทรด: ถึงเป้าหมายการทำกำไร
cl1Crude Oil Futures WTI (CL1!)crudeCrude OilFundamental AnalysisOiloilpriceopecridethepigTrend AnalysisCrude Oil WTIWave Analysis

และใน:

การนำเสนอที่เกี่ยวข้อง

คำจำกัดสิทธิ์ความรับผิดชอบ