Abozahra

Action point reached!

FX:USOIL   Crude Oil (WTI)
Oil             is heading toward an area of interest see the chart for details!

Like if you agree, support and follow please!
Comment: Indecision candle on 4H and on the daily an inverted hammer!

snapshot
Comment: Oil took the down way and good to short the up retracements from here!

snapshot
Comment: As predicted sell retracements!

snapshot
Is 43 coming then?
Reply
No one knows for sure, but not much support on the way down :D so it is possible.
Reply
Dear, you may like to consider the following fundamentals also, before going Long....
(a) if Oil was really so much in demand (or short supply)-- why would leaders like Putin have to step in and make efforts to cartelise the markets. (Only if the oil producing nations understood that cartelization is a crime against humanity and hence most of these Oil producing nations are anyways being punished by civil unrest)
(b) why would Aramco want to hive off their shares?
(c) Oil is one of the most polluting fossil fuel and is being phased out. The speed of phasing out has only hastened owing to false high pricing. It is estimated by within next 20 years, Oil will be used for production of greases for lubrication and not for meeting energy reqmts.
(d) if the Exchanges where Oil is traded were to impose 100% margin and insist only on physical delivery, Oil would not find takers above $20.
(e) Fundamentals eventually take over the charts. Charts only represent history and history does not mean, it will also be repeated in future. (You will not live in caves like our ancestors lived or you will not ride on horses for a short or long journey today..)

Be careful if you want to go Long or advise others to go long.
+1 Reply
Abozahra PRO ma.sanjuy
Wow thanks for that great report! I follow where the price go. I see price action and react after that, if market give a reason the chart to go long i go long and vice versa.
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