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EXCAVO
Dec 1, 2016 5:45 PM

OIL DOWN  Short

NYMEX:CL1!1D
Crude Oil FuturesNYMEX

Description

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Oil touched a third time to the resistance line, and do not break
It mean oil will go down so strong
I wait first 35
Last way

Comment

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Comment

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You still dont believe?
OilCrude Oil Futures WTI (CL1!)CLlightsweetWTIbrentCrude Oil
Comments
mohammadrafiee
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for u my friend.
Devise2Day
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@ EXCAVO
basicly i am enjoying your charts - but in this case i disagree with VANSHTOMAR

Zoom the 2015 development also into it
and you`ll see the upside potential is bigger
- not only the OPEC news. Technical SetUp inclusive ...

How ever, take care - and best regards!
Aaron
EXCAVO
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@4XSetUps, Thank you very much for your comment
ajschmidt100
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Any updates EXCAVO?
mjk123
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i absolutly agree +this has gone up too fast!
banffstocker
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35.60 YOUR ULTIMATE PRICE? NO WAY !!! ITS NOT GOING BACK EVEN TO 40$
2ND TP IS MY ULTIMATE PRIZE
hehe
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@EXCAVO - ... if you let:


EXCAVO
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@hehe, Agree your idea, good view
AdrianNedelcu
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Good tip. So technically this should be what is called rising wedge reversal?! So this certify a downtrend, right? Where is the break point? How do you relate it with the announcement of OPEC and Russia of cutting down production? Only Russia said it will cut off 600.000 barrels a day of oil? Sorry for so much (stupid) questions but I'm learning and I want to understand well everything. Thanks for your chart!
EXCAVO
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@AdrianNedelcu, Global news can say whatever you want .OPEC-SHMAPEK bla bla bla. It is not physical oil. This are futures . and future's price is constituted by those who trade these futures - banks. There are 3 major traders in the market of oil JPMorgan , Goldman Sachs, Citi, in their turn they are getting money from the Federal Reserve System . And the Federal Reserve System has only two targets - to keep holding dollar as a the world's reserve currency and to make it stronger. That why in the first quarter of 2017 the price will be 35-12.
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