We are printing a bull flag again. I'M waiting for a breakout to 45$-46$ soon.
I see again people here at tradingview that shorting oil.
Guys we are in a new bull market ! You cannot short this market in this year.
You might be lucky and pick some money from the bull but most of the cases you will lose.
At least you who are reading me please don't short it. Now everybody will realize that the 27 $ oil is history. All the big funds will start to take position in oil and oil shares.
If we reach the top of this intermediate cycle after few weeks we just close our position and go for long later. But I won't short this market...
It will be impossible to catch the top of a starting bull market's first phase. I studied it hard in 2009 May.
The maximum pullback we can have in this flag is 42 that is the breakout level and the 200 EMA at the daily chart.
If someone want to go long that's the last entry point. AFter this we are running out of time and will be more and more dangerous to short - the chance of a correction is higher from week to week.
I'M holding every position in the Energy trade. I will post there if I jump out.
I see again people here at tradingview that shorting oil.
Guys we are in a new bull market ! You cannot short this market in this year.
You might be lucky and pick some money from the bull but most of the cases you will lose.
At least you who are reading me please don't short it. Now everybody will realize that the 27 $ oil is history. All the big funds will start to take position in oil and oil shares.
If we reach the top of this intermediate cycle after few weeks we just close our position and go for long later. But I won't short this market...
It will be impossible to catch the top of a starting bull market's first phase. I studied it hard in 2009 May.
The maximum pullback we can have in this flag is 42 that is the breakout level and the 200 EMA at the daily chart.
If someone want to go long that's the last entry point. AFter this we are running out of time and will be more and more dangerous to short - the chance of a correction is higher from week to week.
I'M holding every position in the Energy trade. I will post there if I jump out.
Comment:
We are attacking the upper leg of the flag.
We turned exactly where I predicted.
We turned exactly where I predicted.
Comment:
Voulme is supporting the flag.
Comment:
Can we break out finally?
Comment:
Flag is broken.
Want to see short coverings now at the purple and red lines...
Want to see short coverings now at the purple and red lines...
Comment:
Purple line bears destroyed.
Comment:
... and here is the breakout after market close with the stoprun.
Red line bears destroyed.
Never short the oil bull !
Red line bears destroyed.
Never short the oil bull !
More and more people will see the flag pattern...