Alif12399
Short

The Bulls Must Be Careful

NYMEX:CLV2018   CRUDE OIL FUTURES (OCT 2018)

The current rise doesn't fit the bearish divergence at Daily tf. There was a shooting star at Daily on 12th September 2018 and it bounced at the supply area. That showed the banks were there to sell more. I think it's wise to go short term trades, if you're still keen to side with the bulls.

As always, these are just probabilities. Actual price might unfold differently compare to any forecast / analysis. What's most important is to trade and make lots of profits. Getting the right wave count is always secondary. :)
Sep 19
Comment: Bulls should TP some of your positions if price reach the big red box and trail your SL for the remaining lots. If price manage to break and close above it on DAILY tf, wait for retracement. If price holds at certain support level with reversal candle at 1H /4H, then only we should consider to add more positions again a.k.a pyramid.
Sep 20
Comment: Price managed to close above the red box on Daily tf. Let's see what's next.
Nice analysis! I will be watching these. Bukan senang nak buat duit trading CFDs ni :)
Reply
@kweiss, thanks. Dari malaysia ke? I don't trade CFDs. I trade nymex futures contracts through maybank.
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