simonsays452
Short

Re-shorted below consolidating support. Targeting 30.30

FX:USOIL   CFDs on Crude Oil (WTI)
215 4 2
I closed out my prior short this afternoon when we hit the 31.35 target. I waited for directionality on the next leg. AH, we saw bearish and bullish trendline support failures and a breach of the lower range of consolidation support. I've reshorted and targeting 30.30 the 62% retracement with a stop a 31.30
Trade closed: target reached: Closed this short again today with my target reached at 29.70, this afternoon. The prior two API builds have served as short-covering signals. Typically, we've seen the futures trade down in the immediate after-hours of the build release, followed by short-covering on the European open and later throughout the following day. With support holding at 29.50 and two back-to-back >6% declines, I think the possibility for a technical short-covering rally is pretty high. I'll be sitting flat, waiting for directionality for the next move.
Russia's energy minister and Venezuela's oil minister discussed the possibility of holding joint consultations between OPEC and non-OPEC countries in the near future, the Russian Energy Ministry said on Monday.
do you think they will have a bug impact for higher price for the oil ?
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simonsays452 oudjedi.ahmed
The gulf states already said they weren't supporting a meeting. See my prior post. Venezuela can't and won't cut production. Neither can Russia.
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michael23 simonsays452