chartwatchers
Long

OIL - The rally is just beginning

FX:USOIL   Crude Oil (WTI)
582 0 16
On the weekly chart of oil             we have a strong bullish sign : 3 white soldiers.
Timewise we could have printed the intermediate cycle low 3 weeks ago.
This intermediate rally usually lasts for 7-8 weeks. (Intermediate cycle lasts for 20 weeks)
So we have a lot of time (4-5 weeks to run...)
It seems we will not test back the double bottom breakout at 34.29


I'M HEAVILY POSITIONED IN OIL , ERX (Direxion Daily Energy Bull 3x Shares) AND OTHER OIL             SHARES ( OAS             , HK             , REXX             ,BAS, BCEI             )
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