chartwatchers
Long

OIL - The death of fundamentals

FX:USOIL   Crude Oil (WTI)
1620 8 31
7 months ago
And here we are again at the 10 daily EMA.
As I said on Friday whatever happens at Doha the oil             rally cannot be stopped in the middle of the 2nd daily cycle.
I hope all of you survived the saudi trick last night .

200 SMA is still very important today we just tagged it.
50 EMA is very important : we just turned from there today.

Saudis were playing the same game as the central banks on the currency markets.
Only they knew that they walk out of the Doha meeting without the agreement. So they shorted on Friday and covered sunday night.

The setup is very bullish now. We just have to break above the 200 EMA and we will see a hell of a rally...
The bears are hoping in the 200 SMA , and the 200 EMA to turn back the price. Fundamentalists are talking about sub 30$ oil             again. SO this is the time when oil             will really rally. And only a very few of us will be in it...

Energy stocks had a very nice rally today, so I'm telling you guys sit tight, don't try to daytrade , don't short, don't wait for the pullback because there will be no pullback.

See you at 50$ !

7 months ago
Comment: On the picture: Closing at the 200 EMA (red) is wrong...
I wanted to write "Closing at the 10 EMA."
Sorry....
7 months ago
Comment: Fighting with the 200 SMA.
200 SMA is at 40.31.
7 months ago
Comment: 200 SMA is broken.
200 EMA is the next at 41.48.
This time we will break
AL_G
7 months ago
let it rip, if i see oil at 50 by june shoot that'll be great
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chartwatchers PRO AL_G
7 months ago
We might get it by the end of May.
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keefer0
7 months ago
We might get $45 by the end of April as FED drops the dollar on April FED meeting. You have thoroughly convinced me to be Perma BULL...
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AMBRISH
7 months ago
Good analysis of M.A.
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BruceJohnsen
7 months ago
I'm short USD/CAD, this is good!
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tbuckle PRO
7 months ago
when you mention prices are you referring to USOIL or CL or ?
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chartwatchers PRO tbuckle
7 months ago
USOIL.
It's on the chart
Reply
tbuckle PRO chartwatchers
7 months ago
oh right. But why use the old info, why not use the current contract CL?
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