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 is still very important today we just tagged it.
50 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 now. We just have to break above the 200 and we will see a hell of a rally...
The bears are hoping in the 200 , and the 200 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$ !
I wanted to write "Closing at the 10 EMA."
200 SMA is at 40.31.
200 EMA is the next at 41.48.
This time we will break