Yesterday bears tried to take control on oil.They failed. The first top callers had arrived and destroyed by today. Price closed above the 20 EMA and today we not just above the 10 EMA but took out yesterday's high. So I'm saying again the daily cycle low is in . We are heading to the 200 EMA again (41-41.5).
It is going to be a fastening move as bears anticipate that we are going to make a higher high and they are covering the shorts. Today I would like to see higher volume than the last 4 days volume and a close above 38.25.
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Very powerful move... Oil stocks will be on fire today.
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We almost exactly have the volume I wanted ... :)
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tbuckle
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Do you think we get a good pull back on oil and if so where would you anticipate that to be at?
chartwatchers
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Maybe to 38 $ ?
But now surprise is coming to the upside, so dont try to short it...
_trader_
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yea nice one, dollar tumbling helping too! I notice ftse held up well today despite US indices failing a bit, prolly due to those oil stocks in the ftse, all good stuff!
Tradekings
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Man you are fantastic!
You see the future!
Thank you!
avento
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Read his failed forecasts by USOIL from March 21th to April 4th. Nobody can see the future.
chartwatchers
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1. The energy portfolio what I post in real time is in 1270 $ plus at today's close.
That's 12,7% in 10 days. (1% every day) I'm sure your portfolio is making 10 or 20% plus every day just pls don't forget to post in real time.
chartwatchers
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2. 2 of my " failed forecasts" - press play. Yes : the timing was not perfect.
We printed the daily cycle low 2 weeks before I predicted, but we the price of the DCL was almost perfect...
chartwatchers
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By the way I'm long in oilfor a month now. I posted that also.
When almost everybody was calling a lower low I noticed the divergence and the beartrap.
And predicted that we are going to run to the 200 EMA in the first round.
LaoYoutiao
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I paid special attention to your chart , chartwatcher basically called this rally 3 days ago. What a great job.
chartwatchers
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I think we are just starting the 2nd daily cycle.
We have 4-5 more weeks to run.
So don't touch your oil portfolio we will have an epic run.
ESpecially oil stocks and ETFs will make a big run as they are anticipating that oil bottomed...