Oil Still Short ! Short

Crude Oil (WTI)FXCM

Description

⋅ Jan 23, 2020 3:01 AM

If you check my technical analysis from 2 weeks ago ( January 12 ) I had mentioned oil dropping near 56. My analysis has been correct with oil dropping to the 55 area. Next area will be 53 after it retraces to around 56 area again.

Comments

InvestingScope

⋅ Jan 23, 2020 9:52 PM

The 1W MA200 indicates that we may be on a Support level:

Smartwomanyaz_

⋅ Jan 23, 2020 11:28 PM

@InvestingScope yesss not going short for long , just currently .. I never use the MA200 indicator but it looks very accurate.

Thank you for commenting .

MartinSchnellmann

⋅ Jan 23, 2020 4:43 AM

I dont thonk so, first we go up when e bottom on 54/55 target then we go up to 61/63

Smartwomanyaz_

⋅ Jan 23, 2020 4:44 AM

@MartinSchnellmann yes I just was checking over the charts again I can see it going up to 63 area

MartinSchnellmann

⋅ Jan 23, 2020 6:16 AM

@YasmeenW_, ok

vonnpow

⋅ Jan 25, 2020 6:05 PM

@MartinSchnellmann, I believe it may go even lower than 54

vonnpow

⋅ Jan 23, 2020 4:32 AM

Any views on it reaching 61 from the momentum of being oversold? I think it did this back in December ‘19.

Smartwomanyaz_

⋅ Jan 23, 2020 4:44 AM

@vonnpow yes I think it’s gonna reach 61 or even 63 .

Smartwomanyaz_

⋅ Jan 23, 2020 4:48 AM

Also I have a question , how do you know it’s oversold ? Do you have an indicator that helps you to know when it’s overbrought or oversold ?

MartinSchnellmann

⋅ Jan 23, 2020 6:18 AM

@YasmeenW_, RSI, Stochastik and MACD and CCI
RSI is Ovewrsold and Stochastic