FXBanker
Short

The time for selling oil is upon Us

TVC:USOIL   WTI Crude Oil
183 0 3
The recent test of the 51 area signaled the biggest net short position by producers in a very long time.

The sold in anticipation of higher prices but now the market topped and needs to correct before we see a big push to the $60 that Saudi Arabia wish to reach soon.

I will be placing a limit at the 48 area and sell to $40 - $35 range, That is the area where we can start piling up on long term buys and re-enter with each daily retracement.

The demand for oil             keeps rising we are in a 40 year bull market , we must not worry about excessive manipulation and noise from the talking heads on TV and focus on a long term perspective.

The true direction is a medium term bear move. I will also place a sell stop below the recent swing low just in case OPEC meeting sends us straight down.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out