WeeklyTrader
Long

well, close above 40.45 this weekend

NYMEX:CL1!   Light Crude Oil Futures
118 5 4
Head and shoulders , otherwise all the efforts made by who longed waste...
I don't see why guys are so insane for shorting oil. This is the historic chart of USOIL since 1988
snapshot
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snapshot
Think about it !! It's about the US and Saudi's oil supply? Then why this big move were just after QE expectancy changed each time?
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Can you explain the title of your chart post and it's meaning. I don't understand.
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This week will test the Support/Resist Zone that have been tested on 2015-8-17, 2016-3-21 and 2016-4-18. It's most important for those who longed, cause each of these time stamps are before or after FOMC meeting, with the interest rates expectancy changed. Pardon for my poor English. I mean you should take a look at 2009, 2010 and so on. We are now in a long-term test about the US QE, and this is exactly when they raise or lower the US interest rates. And IMO, though the oil oversupply, the price of USOIL is dependent on US dollar directly. And all this move till now before Sep FOMC meeting is regarded as the retest of USOIL's position before QE in 2009.
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I don't believe no one buy this shit until Friday.
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