chartwatchers
Long

OIL - Weekly check

FX:USOIL   Crude Oil (WTI)
659 2 23
I didn't post the weekly chart for a long time now.
At the last intermediate rally we run for 14 weeks before the correction had started.
We are now on week 10. At least we have 4 weeks more to rally.

But because the new bull is starting at least we are going to take out the last intermediate top at 50$ and test the 100 EMA around 55$. So the rally might last for 6-7 more weeks. (In a new bull market you never know how long is the first part. The junior bull has to destroy all the bears and must get them on board before a correction can start.)

And maybe - this is also a possible scenario- if the rally is strong enough during the next 4-6 weeks we will break above 60$ taking out the 2015May intermediate top and tag the 200 weekly EMA . That is the maximum we will reach at this intermediate cycle.

I would like to see the RSI leaving overbought and SlowStoch to turn down before I close every energy position in the following 3-4 weeks.

We are looking forward to see 3-4 very very bullish weeks.
So please don't try to short. Ride the bull! These are rare moments.
Great outlook =) I got something similar:
Oil. Are we cheap or expensive? I´d say cheap
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hi... would like to know your opinion on the Calender spreads WTI and the WTI-BRENT calender spreads....can i have your email address?? i would like to share with you a peculiar situation and seek yr opinion on the same.
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