The price of WTI oil has reached historically important level. Tomorrow, either the fact that the price of oil will begin a new stage of the fall will be confirmed or come to a new level and continue to grow! I definitely do not believe that the price will grow and I will trade tomorrow using weekly report on live session! Join, let's do it together! You can see my last trades on the reports on Youtube (look for Kate Wess). Thank you for your attention, you are all cool)
Why do you not believe the price will grow out of interest?
goldsecret
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@CyrusTrafford, At such price American oil creates a huge competition for OPEC oil, they need to stay balanced. This is already a vicious circle. There are two options: either American oil isn’t free to enter the market (at a price of 50 or more) or it is necessary to reduce the price of oil because of the large supply in the market. What do you think?
CyrusTrafford
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@goldsecret, To be honest I am really undecided... I have three short positions so I want it to go down, but at the same time the hourly, daily, and weekly RSI and MACD point to a rise. I think we could hit over 50 today/tomorrow. Then it will be the case of if the Bulls have enough power to push it any higher. But I won't close out my short positions at losses as I do think mid-term the price will come crashing back down.
goldsecret
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@CyrusTrafford, be careful tomorrow at 5:00 PM (GMT+2). But I still belive that it will go down
CyrusTrafford
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@goldsecret, Because of the Inventory news tomorrow at 5pm? There is the API Inventory news today as well...