TVC:USOIL   WTI CRUDE OIL
3000 21 62
2 months ago
OPEC has surprised the market. The deal shows that they really want higher oil             prices...
The daily close is not important now. We don't need a daily maximum close. The important thing that price has broken the cycle down trendline ( blue) and with this move it confirmed the DCL.
With all this we are on day 8 in a new daily cycle. We have around 5-6 weeks to run.
The RSI bullish divergence worked quite well. RSI can get overbought and can stay at overbought levels for weeks. MACD crossover below the 0 level also a good sign that a rally is starting.

We also break above the green trendline. That was the first daily cycle's trendline. The testback of the green trendline was the last hope of the bears. As we break above both the blue and green trendlines at 46.29$ it will act as strong resistance now. I think we are going to attack 49$ and 51.69$ very soon.
2 months ago
Comment: Our two previous trendline ( blue and green) should act now as support.
We are at the green trendline now. If we break below it the blue trendline must hold.
snapshot
2 months ago
Comment: 46.53 and 46.13 are the 2 levels to be watched.
2 months ago
Comment: The 200 EMA (purple) will be very important during this daily cycle.
snapshot
toothless
2 months ago
Thank you!
Reply
watsonzou26
2 months ago
Just closed my shorts(1000 shares of DWTI), i was sweating from -$1800 to $308 profits. What a crazy day!
Reply
hasansahoglu
2 months ago
Where is my GOLD analysis? :)
Reply
shinsky
2 months ago
Apri, does that mean 42-43 is virtually out of reach?
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chartwatchers PRO shinsky
2 months ago
Virtually yes. But we might get a fax.
+3 Reply
chartwatchers PRO chartwatchers
2 months ago
;)
+1 Reply
shinsky chartwatchers
2 months ago
Thanks! I appreciate the memo!
Reply
hthieuvn
2 months ago
I know it's just an idea but I'd like your analysis and thank you.
+1 Reply
Guybrush80
2 months ago
great analysis Arpi! what about SPX ? it will follow this uptrend?
Reply
chartwatchers PRO Guybrush80
2 months ago
If oil stocks rally that willpush SPX too. I'm watching the cycle and if I see any changes to exit positions I will post.
+1 Reply
ice_holly01 chartwatchers
2 months ago
Thanks for the chart. I still hold ERX.
Reply
AlbCM chartwatchers
2 months ago
but what if spx goes down as it is supposed to due to the upcoming election? Oil will surely follow, no?
Reply
kidd19911
2 months ago
one more "gift" from chartwatchers
Reply
bertcoin PRO
2 months ago
Hope it's not this one!! https://youtu.be/X-rkFaIPyL4
Reply
bertcoin PRO bertcoin
2 months ago
Just humor. I'm VERY long with you.
Reply
chartwatchers PRO bertcoin
2 months ago
LOL. It will be gold's lightspeed. But it will be fixed soon.
Reply
Ta-Trade
2 months ago
Class act mate!
Reply
rere04
2 months ago
can u update natty?
Reply
chartwatchers PRO rere04
2 months ago
posted
Reply
MindTrader
2 months ago
WTI Crude
Reply
AYosof
2 months ago
Hello, would you provide some update of what you are thinking.. is it now moving to 51.69..?
Reply
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