chartwatchers
Long

OIL - bull flag at the 200 EMA

FX:USOIL   Crude Oil (WTI)
891 12 19
This is exactly what I wanted to see.
A bull flag at the 200 EMA. Volume is not enough for breaking through the 200 EMA.
But I don't see any big sellers. So they are not selling.
Why are they not buying? Because they are already in position.

In the meanwhile we are running out of sellers in the bull flag. Conditions are not overbought anymore. ( RSI near to oversold)
So we are ready to break above the 200 EMA next week.
nice bro we think alike
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thank you for the input lets make $$$$$$$$
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normichtrader
7 months ago
You think oil reponds bullishly to Doha?
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chartwatchers PRO normichtrader
7 months ago
I think whatever happens in Doha will not be able to stop oil rally in the next 4 weeks.
And yes there is no POWER who wants sub 40$ oil prices. I think there will be sgreement tomorrow
And we gap up on monday...
+1 Reply
normichtrader chartwatchers
7 months ago
I'm thinking buy this dip.
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jackcrudeoil
7 months ago
Hi...which price do you suggest to wait for re-buy..do you think thai a test back will continue??thanks a lot for your time and sorry for my incorret english
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dimitriosb602
7 months ago
Kuwait strike, inventories lowering. I don't see it under $38.35 at market open. chartwatchers is right 45$-50$ range
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chartwatchers PRO dimitriosb602
7 months ago
And soon there will be some kind of war at the NearEast if they can't solve this issue.
I think Saudis just wanted to make some easy money on it. They were short since Thursday.
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chartwatchers PRO chartwatchers
7 months ago
I'm watching now: ERX, OAS, ÍCLF, VALE as good indicators
TRaders are buying the dip in these shares...
WE are in the 2nd daily cycle . We have to run above the 200EMA...
+1 Reply
jackcrudeoil
7 months ago
So you think that its a right moment to buy despite a test back..right??
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chartwatchers PRO jackcrudeoil
7 months ago
Yeah Man!
Saudis screwed everybody.
We ar going up.
It is/was a good buying opportunity. Maybe someone wanted to buy oil on this cheap price...
ANd Saudis pushed price down by killing the deal.
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jackcrudeoil
7 months ago
Thanks so much...i will wait until eia's report and then i will buy..i hope that oil continue on his test back until report..
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