So Oil is at a very interesting moment, do we go up or down from here or consolidate? Noting the patterns, see chart, and indicators, difficult to tell. Heard a talking head say today that diesel fuel will flood the market, refiners stepping up production, creating over supply, OIL price heading down below 30 maybe soon. Possible per TSI and MACD, if we reflect on 2008 low. But dollar rules the day. Watching GDP this morning report yet. But, I need some help here from fellow Tradingview friends. How to play this move? Through conventional stock portfolio trade platform. Which stock to buy, or futures contract and exactly how to buy futures contracts via scottrade or similar trading platform? Anyone? Thanks for specific assistance, as I use Oil as an indicator, correlating to other trades, never really traded OIL per say before. I believe we go lower here, since dollar ascending still. Dollar turns, when oil hits final support, IMO.
Comments
andberg
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Thank you for your idea. I'm trading either HOU or HOD giving two times up or down relatively to CL1!. I have switched from HOD to HOU yesterday morning, because bottom trending line on RSI had been broken . See my idea published yesterday
Also MACD is biginning its uptrend this morning but still Under zero line and RSI is still between two trending lines Under 50% wich could lead to weak uptrend or even a trading range.
Also MACD is biginning its uptrend this morning but still Under zero line and RSI is still between two trending lines Under 50% wich could lead to weak uptrend or even a trading range.
Please trade carefully