We are above the 200 EMA again. If we can stay here oil will shift gear : shorts will be covered above 42$. In a very short time we will be at 45-46$.
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It's starting... Bears will give up today.
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Today we confirmed that we are in the 2nd daily cycle. Oil could rally despite the bad news (saudi trick etc...)
Can you imagine what will happen if we get some good news?
I'm waiting for 2-3 weeks of continuous run with small daily pullbacks till the middle of May. I will take profit at 52-55$ when all the bears who stopped out today will get on board in the hope of a 100$ oil.
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Oil's speed is 1/hour.
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I'm closing my SXE positions. Only the SXE. It's in +42% today.
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Southcross Energy Partners shares
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EXCAVO
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chartwatchers
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Same thoughts.
Timing and price could change, but something like this should happen...
JackOil
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You must be kidding that oil will reach 52 - 55$. Most likely it is on the way down after 44
chartwatchers
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I'm not kidding.
It is going there.
JackOil
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What would be your basis for that other than technicals? It has been struggling between 43.20 and 44.40 for the last few days. I have not saying it might not go to 50+ but trying to understand what reasons would be. The fundamentals are still against it on the oversupply side.
chartwatchers
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Sentiment is still not extremely bullish.
Without that it will not turn down.
And forget the fundamentals. You dont know what is reality. When the news say shortage I will be selling....
nexuz
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waiting now for EMA 10 or 20 to catch up to get another entry
suburra
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Congrats... same.. i think its forming bullish fractal. In big picture monthly, weekly oil is bullish
webmiztriz
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sunburra.. i am wondering that mysefl...
chartwatchers
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I think timingis not good on your chart.
In the middle of MAY we wil have a top.