WTI jumps 6 % from lows on Saudi comments

FX:USOIL   Crude Oil (WTI)
710 12 13
So it looks like Saudi Arabia finally had enough of low Oil             price. They need to mark the bottom, or face consequences in their ccy devaluation.

Short squeeeeeeeze starts now!

- Ichimoku is bearish , with supp/res levels at 44,10 and 46,00
- Heikin Ashi goes more bullish

- No lower low -> Ichimoku turns neutral
- Sharp reversal in Price makes bullish Heikin Ashi signal
- EWO             testing zero, while Price testing 100 WMA

We are not yet out of the woods, but dips will likely be bought... if there will be dips... as mkt is extremely short in Oil             .
absolutely agree, 45.6-46.5 target zone.
No Darling, it is a 54 tgt zone. This will be a game changer.
julia17 Kumowizard
in long term, may be, but if next month bar will have 46 just one day, then it 'll be reversal, but now i suppose it just as bounce. let's see)
what is long term?
For me long term is 6-12 months. In that horizont I think 60-70 range. But I never trade so much in advance either :-)
julia17 Kumowizard
me too, so playing till 46.6 and then will think much what to do)
Loaded the bus last friday at $41 :) I'm also looking to get out half of my UWTI at 44, then 47 if possible.
Kumowizard PRO LastBattle
I was almost fckd on it a bit :-). I did my dec/jan switch luckily before the spread collapsed further. Then added to jan longs a bit, which I got stopped partially this morning. But I manage to buy it back a bit lower. So still in the game with the size I wanted to have. Now I wait until 4H gets confirmation on reversal, then I will size it up. I am also loaded with EURNOK shorts as you may have realised from my other post.
julia17 Kumowizard
good luck)
julia17 LastBattle
good entry, congrats) i posted today bounce idea on 40.7 too)
+1 Reply
Thanks ! I think now it is waiting for the last US data of the day. We will definitely see some moves aftwerwards :)
+1 Reply
Very nice analysis. I like these charts very much. They are very clear and I like the SAR combined with the Ichimoku. I will replicate the charts for my other analyses.
Thanks for sharing your views!
Oil (WTI): 7 bearish candles!! Harmonics and trendline re-test..
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