chartwatchers
Long

OIL - Over the top

FX:USOIL   Crude Oil (WTI)
1470 15 30
Higher high again. This is how bull market works. You get on board , sit tight and let the position work.
Though yesterday I closed some oil             June contracts , I bought ERX at the same margin impact because I think ERX will make more profits as the stock market is rallying by itself so oil             stocks will rally even more. The stock market rally and the oil             rally wil support each other.

Briefing: we had 2 weeks of consolidation, breaking below the 10 EMA but the 20 EMA caught the price and we are bounced from the 20 EMA and break above 300 EMA . If we are holding these gains today and close above the 300 EMA we will be heading to 50$. I'm looking forward to see a slow but unstoppable move above 50$ in the following weeks.
Now it's time to watch the news. The news will be starting to talk about increasing demand and decreasing supply. This is the green light when everybody will feel safe that the path is clear and oil             is in rally mode.
So we will have everybody and his dog on board now.
The panic buying is starting. We are over the half of the intermediate cycle so I think we will have the top in 4-5 weeks. Oil             shares might run for more after oil             topped - same like in gold             and GoldMiners - in the euphoria so when I feel oil             has topped I will move all my capitals into ERX and other oil             stocks .


And I want to remember you one important thing: The sub 30$ oil             prices are history .


dimitriosb602
6 months ago
:) Thanks
Reply
Benztownguy
6 months ago
tnxs for taking the time to share your thoughts man, i appreciatte all your posts and tweets, keep up the good work!
Reply
webmiztriz PRO
6 months ago
you are brilliant .. ;o) thank you for all your posts.. I am learning so much from your in depth 'psychology' analysis (here) underneath the charts.... so thanks especially for that.
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xiiimik
6 months ago
What do you think of VALE, X, CLF?
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SupraBoy xiiimik
6 months ago
Continue to short VALE, going to 3.80
Reply
SupraBoy
6 months ago
I'd be careful going long here. The intraday pullback shows that it's a bulltrap. Should pullback to 44 shortly.
Reply
chartwatchers PRO SupraBoy
6 months ago
I've been listening to these type of comments since 30$.
And we are printing 46.5$ again. The bulltrap was in gold. It's not a bulltrap.
+3 Reply
SupraBoy chartwatchers
6 months ago
USD on the rise, be careful going long oil.
Reply
NihalCassim
6 months ago
I have been following chart for a month now. I'm a fundamental investor and I was very bearish but his conviction made me ride the bull from $40 to here. So a very big thank you chart for making me some good money and letting me cut some of my losses.
Reply
chartwatchers PRO NihalCassim
6 months ago
In these modern manipulated markets you have to be ready to change the direction in your mind in the blink of an eye.
To change the direction in your mind and to bet on it one of the hardest things in this business.
"The human side of every person is the greatest enemy of the average investor or speculator." - Jesse Livermore
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EnzoCaluzzi chartwatchers
6 months ago
salve chart lei fino ad ora ha avuto ragione, lei ora in h1 vede un doppio massimo ?, oro fa resistenza al calo
grazie e complimenti
Reply
EnzoCaluzzi EnzoCaluzzi
6 months ago
scusi doppio max in 1d non 1h
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nice man really like your idea and thoughts!
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Pringem
6 months ago
Can you please give us an update. Thank you
Reply
Trendhopper PRO
6 months ago
Nice long bull flag on Friday , just waiting its moment to break to 48....my target is 51
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