Crude target of 52 almost achieved

TVC:USOIL   CFDs on WTI Crude Oil
Crude is nearing the target of 52 after the breakout of the triangle after the OPEC meeting a couple weeks ago.

RSI and Stochastik are now very much overbought and even generated some sell signals. Also, as of now, there is a divergence in stochastik and RSI indicating the market is due for a correction sideways or lower. Without any fundamental news a correction is imminent. However this correction might well be sideways.

Overall physical trading volume has slowed according to my sources after the panic buying spree shortly following the OPEC meeting.

Overall we are in an uptrend, and I would expect we ll at least test the highs made earlier this year around 52.

Some light call spread selling might be good, but IMHO             being conservative is the right play. No buying of downside options as that premium will just decay.
Comment: 20 day MA at around 48.20 next target on downside, followed by 100 day MA and breakout trendline at 46.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out