FX:USOIL   Crude Oil (WTI)
462 2 22
I'm not very happy because Oil             lost the 10 EMA today. Most probably the reason is the strengthening dollar.
I was waiting for a red candle but not a close below the 10 EMA.

It's still too early for a daily cycle low (that would mean a 8$ fall from the top - in this case we would have a decline from 46$ to 38$) so it will be a 4-5 $ pullback to the 20 EMA (42.74$) or maybe to the 200 EMA (41.78$) I'm not waiting for the price to fall below 41.78$ - and it's possible that we just reverse in the night without tagging the 20 EMA...

I think oil             was hit by the stronger dollar today but I don't think after this day the strong buck will affect oil             too much.
Market has to realize that central banks had simply printed too much money in the world : and this money will flow into stock market and the commodity sector in the following weeks / months.. So even if we have a rally in the dollar in the following weeks I'm 100% sure that smartmoney will be positioning in stocks , commodities and precious metals.
So they will buy every dip in oil             till it finishes a rally like gold             .

I'm holding the oil             positions.
dimitriosb602
7 months ago
I agree with you, the FX markets are causing this volatility. The money will make its way back to the equity markets. The fundamentals will have this bull taking us to new highs!!!!
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kizly
7 months ago
Sold on friday all speculative oil stocks, this retracement will open chance to get into high dividend oil stocks and profit from both price increase and dividend. If the price goes under 42 i ll be back also in speculative oil stocks. Liked your idea with erx yestarday and followed. Thanks
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