SimonJonsson

My last WTI Oil chart for today

FX:USOIL   Crude Oil (WTI)
45 1 0
I did some bad calls today. Price for both WTI and Brent continued higher than what I had anticipated.

This strong upward move is probably due to 2 things.
1. A counter move to the heavy fall in oil             price the last few days. It fell below any and all possible trendlines and channels basically.
2. It also may have hit a bottom for now, at the pink trend line .

I just managed to draw this trend channel which at the end of the session it closed at the top of.
Now the question is, will it fall down from here, or break up?
Your first call was not bad, it was logical. It goes up too fast, I think there will be a cool down tomorrow, the whole perspective did not change in one day. By the way, I also made some bad calls during the downtrend. However we could have a trading range coming
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