Today is a very important day. After today's inventory data we will see the next 2 weeks' direction.
AND I THINK IT WILL DISAPPOINT THE SHORTS AGAIN. :)
If the oil inventory data is down we will broke above 200 and stop out all the shorts again (my bets are on this ) - green way. And we start moving to the 300
If the inventory data is down we start to move down into the DCL.
I highlighted in the blue box where I wait this daily cycle low and when...
I got a few messages to update oil every day it seems I'm one of the very longs here.
Who wants a daily update please hit the like button and I see there is a demand for it. I will post every day , because this is the possibility of this decade....
Good trading !
Oil inventory data today at 10:00 EST
I think we will try to break next week the 200 EMA - on the daily chart- again.
It's a bit too early for the move down to the daily cycle low.
If we can hold the reversal this level at 38,50 will be a strong resistance...