Hi guys ! Ipost a recent view that i have to short USOIL. The time frame that I use in this chart is monthly candles. As we see from analyzing the possible supports and resistances we see that there is a possible target at 42,9$. This month WTI oil broke the median of bollinger bands and continues the recent rebound to 42,9 to the lower band . ADX now is going to start trending and -DI is crossing the +DI which is a clear short signal also i combine that signal with that from Vortex Index which is also a short signal. Heavy volumes and recent speculation going to help to reach our target. From that recent drop the big winner is Russia because WTI has a negative correlation with Natual Gas . Natural Gas spiked up in the jar of 5$. The recent cut of production of Russia's oil is an undertable agreement with Iran. Hope you find this idea usefull ! Please consider all the risks before take a trade. Have fun !!!!!!
Comment:
Target achieved ! With high profit stake ! Hope you find that idea usefull guys ! Merry Christmas !