OIL - Breaking down

NYMEX:CL1!   Light Crude Oil Futures
554 22 3
The weekly here

The price of Oil             is collapsing. Considering that every support, every bullish setup, every bullish candle gets trashed, I would say that is a fair statement. It might be late to enter now, the astute oil             traders entered short a long time ago, but prices should continue lower, considering that the first proper support is very far away, as seen on the weekly chart. My only concern is short covering, which happens with lightning speed and great force.

Today we had another break of a bullish candle (a small kangaroo tail) that followed the climactic action on the day of the OPEC meeting. This break should produce further weakness.
14.01.2015 closed the entire position

It is more than enough
+1 Reply
Mickette vlad.adrian
Looking at USO + UCO it looks like a bottom has been made
Mickette Mickette
+1 Reply
jangseohee Mickette
1st Bottom
08.01.2015 closed half (the half I added)
jangseohee vlad.adrian
jangseohee vlad.adrian
teacher, click on the "lightning" on top right hand corner of post comment/reply, insert and post, pic comes out directly :-)
vlad.adrian jangseohee
Obviously I know that, I just don't want more charts, I prefer links :)
+1 Reply
jangseohee vlad.adrian
k :-)
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