Long OIL into OPEC (Nov 30th) (Daily)

TVC:USOIL   CFDs on WTI Crude Oil
251 2 6
If OIL             trends the way i think it will, it'll be a coincidence in regards to the OPEC meet at the end of November. I just want to get that part cleared. :P

Short term speaking we're looking close to a bottom here at these levels. RSI divergence, 3 wave correction, and possible MACD crossover all signal buy right now. It will be interesting to see how Sunday night plays out, but I'll be looking at starting a 1/5 position at around the 42.60-80 area either Monday or Tuesday. If for some reason OIL             gaps up or runs before open, I'll look at a close above 44.90 to enter. If OIL             falls bellow (and closes bellow) 42, this chart is scrap. GL
Trade active: Started 1/5 position @ 42.80.
Comment: Looking for a deeper correction before adding to current long position. Something between 44.80-44.35. Possibly late Thursday or Friday. Stop set @ 44.20 for current position. GL
Trade active: Added another 2/5 position at close. Pivot point most probably happened overnight Friday at 3AM @ 44.54 (target I was looking for).

Total position now is 3/5. Not sure I'll be adding more as I'm more interested in catching the top for a short. Target for my long has now been reduced to 47-ish. GL and have a nice weekend.
Trade closed: target reached: Sold everything at close. Sidelines until we see a clear short signal. GL
You could have connected the lower orange trend all the way back to April of this year.
Solid chart!
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out