Touched 0.618 fib (+200-daily moving average) and it is very much overextended in bb(20,2) perspective. Economic fundamentals are improving (tough slowly) around the world (especially in the China, look e.g. the pmi). I think that the oil has overreacted.
Falling dollar (+t.bonds) is telling me truth. Crude will move to the opposite direction (i.e. upwards).
Falling dollar (+t.bonds) is telling me truth. Crude will move to the opposite direction (i.e. upwards).
Comment:
Weekly BB(20,2) touch could be possible before bouncing.
Comment:
Non-commercial net position sentiment changing aggressively in dollar... Supports OIL
Trade closed manually
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