pparmy1991
Short

Pending short, trend is changing

TVC:USOIL   CFDs on WTI Crude Oil
228 views
4
228 8
Seeing divergences on both RSI and MACD . Wait for a flag & break out of trend line . It will be easier to set a stop loss after the break out.

TP1: 49.5 area
TP2: 48 area
Apr 06
Comment: Still not break yet, the top might be retested.
Apr 06
Comment: I think the previous top needs to be broke before heading south. See what the weekly close will be tomorrow.
Apr 06
Comment: We have the new high, now it's bear's last territory.
Apr 09
Comment: Looks like weakness is generating, let's see if the trend is broke this time
Apr 12
Comment: Now could be a short setup
So, the trend is about to change? Do you watch CNBC? RBC Capital Markets' Helima Croft explains why crude oil will get way more expensive this year.
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pparmy1991 Toland888
@Toland888, I am bullish in long term. I just don't think 47 is the current bottom.
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Toland888 pparmy1991
@pparmy1991, Where do you see this bounce go?
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pparmy1991 Toland888
@Toland888, Probably 53.3-53.4 area. If that breaks, we may see 55+. Buy or sell at the current level is not suggested in my opinion.
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Toland888 pparmy1991
@pparmy1991, Thank you for your advise. I am thinking about if I should close my HOD.
Reply
pparmy1991 Toland888
@Toland888, You are welcome. I didn't trade futures, just practicing chart reading techniques for now. You could take half of your profit and put the rest as break even. Or if you bought below 51.60, take profit for half of your position. Set the stop loss at 51.60 and let it go :)
Reply
Toland888 pparmy1991
@pparmy1991, Why don't you think 47 is the current bottom?
Reply
pparmy1991 Toland888
@Toland888, Actually I don't watch news a lot. My view of the current oil situation.

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