Officially we have hit the reversal area. Oil is heavily influenced now by different fundamentals as inflation, tensions UKR-RUS, rate hikes, USD strength, shortages in TX and Lybia, etc...
So price has been driven by this persistent factors yet in play so be very careful with your trades. I shorted too early and decided to close at a loss to reopen later on (NOW).
@Divergencify, Thanks mate, a pity I didn't followed it from the beginning as it looked somehow too far. Let's see what comes next. Cheers
Hamood_3
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I have opened shorts too early morning as well and closed with a loss. But hedged a little long the way so its not so bad. I’d like to see a pullback at this resistance but I’m afraid the fundamentals you mentioned right now are too strong and the bulls are really pushing for that triple digit number!
VIP_Trading_Technologies
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@Hamood_3, I re-entried shorts as well almost at today's top and then scalped few times. Price remains very high and that's why I closed all positions as I do not see it very clear yet. Perhaps that's what they wanted and we could have a bloody Monday, who knows.