OIL - 4hrs update with entry points

FX:USOIL   CFDs on Crude Oil (WTI)
1150 18 29
DAY 7 in the new daily cycle.
We took out the prevoius high yesterday. But couldn't close above it.
Is it good news or bad?
Bad news for the traders who are already in, but good news for the ones whho would like to get on board.
And a hope for the bears who are trying to short again.... :)

As I thought it seems we will not break the 200 EMA before the DOHA meeting...
We might print 2 low volume nothing day today and tomorrow. I'm watching the energy shares very carefully, if they rally then smartmoney got the information that agreement will be and they will be buying energy shares today and tomorrow. ( Not every big player is trading OIL             futurescontracts, many just buying energy shares if they know that oil             is going up or just holding the gains in a range.)

So where to enter or add?
This is the last point where I add position to my portfolio. I want to close my gains so I dont want to enter into a surprise decline with a huge position which will reset my account.

Possible entry or adding points:

20 EMA on this 4hrs chart- in a strong rally this supporting the price (40.8)

200 SMA (light blue horizontal line ) a lot of traders are watching the 200 SMA and not the 200 EMA . We broke this already so a testback of the 200 SMA is possible. It is at 40.5$ now. It's a possible point to test back.

50 EMA (39.6)

The dollar is in an epic rally , but wont affect oil             price too much.

Be patient maybe nothing will happen till sunday.

Comment: So here we are at the 10 EMA.
It's starting to look scary isn't it...?
Voulme is still low...
should we buy at discount?
My energy trade is full.
I'm not adding more.
WIth moeny management you can add.
I still think that even saudis cannot stop the 2nd daily cycle.we might not be going
to 55 only 50$. That's all they could do.
They were short since last Thursday.
+2 Reply
going to be flat today till europe and us opend. guess there will be more down pressure then. still cant believe that SA killed the deal in the last moments.
What are your thoughts now? It gapped down 6% and only one market is open so far.
Nice example about missleading News: yesterday reuters released a news that there wont be an agreement in Doha. About 30 minus ago they released this:

So it Looks like expected now even, better imho cause of the next Meeting in only 6 months
+1 Reply
also we are at the 50 EMA in the 4h chart now and we got a tight resistance area below 40 - but im also a bit nervous about the meeting :) gladly doha is nearly in the same timezone so the news should be there on sunday right away.
Exactly. That will catch up the price with this volume.
nexuz chartwatchers
i need a drink for that kind of trade :)
HI, congratulations for your analysis.
i've just sold my long position with a good gain before meeting...what do you suggest for next week? i think that a test back its this case which price do you suggest to wait before buy? thanks
chartwatchers jackcrudeoil
Sometimes it's good to lock the gains. Especially before such an important meeting.
But you have to prepare if the meeting produce good news we will break up.
If we will have bad news some kind of pull back will be but the rally will continue.
And I don't think powers want sub 40 oil prices. They want to stabilize prices above 40$.
They won't miss this chance on sunday...
+4 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out