Kumowizard

Trading bearish on OPEC hints, but...!

FX:USOIL   Crude Oil (WTI)
513 7 5
But it can be short squeezed anyway. With or without OPEC cut. Why? Simply because after yesterday ECB squeeze, all the major players (funds, hedgefunds, bank trading desks, props, etc) faced a huge VaR shock. Volatility also increases due to less liquid markets at year end.

Daily so far prints a huge double wicked doji. If bears can not push it below 40 on close, then squeeze may happen even without OPEC production cut, just because of year end position squareing. However we can not ebter a bullish , swing long position until we see a break and close above 41,75 on 4H time frame.

We should long by Tuesday or Monday close, I think.
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moorekapital PRO moorekapital
a year ago
Can Oil make it to 38.24 by Monday close....???? If not, we long! -100CCI agrees:agree:
snapshot
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funniest would be if they could agree on a cut in "last minute" :-)
Press conference starts in 5 minutes I think.
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wd1040 Kumowizard
a year ago
Yeah the 31.5 leak is almost too similar to the FT leak. Everyone's been selling oil so there has to be a lot of stops probably starting at 41.5 (the previous peak and coincides with where the cloud is)
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Rupesh
a year ago
With Break 38 oil never change direction of trend.
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Rupesh
a year ago
Without Break 38, WTI WILL NOT CHANGE DIRECTION OF TREND.
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JigneshRathod
a year ago
looks like you posted this before OPEC decision. right now at 40. what do u think will happen next week? All energy stocks down crazy. Want oil up else they will get hammered more. Already stuck in it badly. wht do u think oil will hit next week? hoping Santa rally and oil might be stronger by end of year.
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