chartwatchers
Long

OIL - Strength

TVC:USOIL   WTI Crude Oil
3465 41 52
Oil             is showing all the signs of a rally out of the daily cycle low.
Yesterday we broke above the previous(?) daily cycle - the DCL is still not confirmed - trendline and today early morning GMT             we break below it but it was bought in a few hours.
Oil             starting to show strength. If it's a new daily cycle the bulls should buy every dip. And they are doing their job.

The next mission is to break above the blue trendline . That is the previous daily cycle's trendline . If we break that - and it seems as I'm writing this it will - our long position has a "DCL injurance".
What does it mean? It means that this is the breakout you can buy . It will has a very high chance that we are going to rally above 48-49 and later above 52.
So all those who missed the lower entry point this is the place I would enter with longs.

If we break above the blue trendline I will switch to lower timeframe with my posts to see the details of the story. If I'm right this is the 2nd daily cycle of this intermediate cycle. This one usually produces the best rally.
Who was short it is the time to get out and change the direction. All the losses you made on your short trades you will earn back in the next 4-5 weeks.

And MACD is looking god now. Crossover below 0....
Let the rally begin!
Comment: We turned down from the trendline again.
Timewise a drop to the 200 SMA is still on the table in the next 2 weeks.
snapshot
Boom! Blue line broken on OPEC production limits talk....
Reply
thumbs up :)
Reply
You guys need to stop doubting chartwatchers :D
Reply
Do you think we are done going down or still need to tag some lower MA's?
Reply
Done. DCL at its place
Reply
tbuckle PRO chartwatchers
Two days later and $3 later you tell me now it's done. lol
Reply
Sorry . I was busy with buying oil. :)
Reply
tbuckle PRO chartwatchers
ha ha! thanks for the reply regardless. : )
Reply
Hello Chartwatchers. Are you still holding your crude oil CFDs ?
Reply
chartwatchers PRO andrej123456
Yes. I'm waiting for a breakout above 52 in the next 1-1.5 months.
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out