WTI - Bulls still fighting the dive - May succeed

FX:USOIL   CFDs on Crude Oil (WTI)
268 8 3
The stop on close below 43 did not trigger.

4 tests on 44 and one penetration/rejection.

Locally the bulls are in controle but any further attempt lower has more chances to succeed now.... Bulls have to keep it up now.
As long as it stays below $49.30 bears are in control. 4H TF close above this price, in my opinion , might shift to short term retrace, therefore, I see only better price to sell.
YaKa Nightwish
i agree with your level.
below 43 on close bears win
above 49 on close bulls win.
markets decides. no point arguing. both side hold true from an intellectual point of view. Rien ne va plus. I am long. good luck.
+1 Reply
That was a comment, not arguing. I don`t buy bear market and pray, I sell the best price available. WTI porter n'a pas dit son dernier mot. Cheers.
Fully agreed. Also take into account that there have been historically high inventories and the market hasnt sold it off to new lows. Bulls definitely in control for now! Picked up March 50 calls.
YaKa Justiceisfalse
JIF, there will never be good news at the bottom. the whole news flow was ugly for 2 weeks and the market could not really penetrate lower... + techinically was good level... I think the bottom is in for a while..
there are tons of automates that are going to exit the short...
+1 Reply
+1 Reply
this is the junction where momentum machines would exit their short... expect some acceleration up in close.
+2 Reply
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