chartwatchers
Long

OIL - Trapped bears' short squeeze is coming above 34.52

FX:USOIL   CFDs on Crude Oil (WTI)
402 5 11
I just noticed how similar is the present situation in oil             to the 04.06.2015 situation...
We have a beartrap : a lot of people shorted oil             in the breakdown on 02.11.2016... I want to see their short squeeze tomorrow or Monday when we break above 34.52...
That short squeeze will push price to the 100 EMA and to the 200 EMA . I think this daily cycle will top at the 200 EMA (40-42)

Watch how similar the divergence between the price and the MACD/RSi (blue line) today and in 2015 March-April...
In 2015 October when price was falling we didn't have this divergencies... (Red line)

Today we closed above the 50EMA despite the weak oil             inventory data.

I still see a lot of people posting short possibilities here.
I think it's a suicide plan to short oil             here. We are at the end of the intermediate cycle...

A junior bull is born during these days...
Can you please post your thoughts after todays price action (Friday 2/26/16). Thank you.
Reply
I'm planning to post a very detalied analysis in OIL this weekend.
1hr,4hr, 1D charts. Also I will post COT reports regarding OIL.
I'm still quite sure that the bottom is in , and we are on the way to 40$. Bears are defending 34.50-34.80 very heavily.
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Very good analysis. Thank you. How did you found out the similarity between 4.6.2015 and now?
Reply
chartwatchers AhmetAlperOzen
I was long that time also...
I have a De JA Vu.
:)
+1 Reply
AhmetAlperOzen chartwatchers
:)
Reply
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