FX:USOIL   Crude Oil (WTI)
2816 22 52
6 months ago
I'M posting the oil             chart again. Lot of you had asked to post some update.
Not too many things happened the last few days. The rally seems to be slowing now. Though we are printing a higher high again I stll see the divergences in the indicators. I don't see any reason now to jump on board at the long side again. I would like to buy oil             again when it's moving down into its daily cycle low to the 300 EMA. ( Last DCL was printed at the 300 EMA so I'm watching that EMA again.
It would like to be nice to tag the 2015 intermediate high at 50.89$ and move down to the DCL from there.
I think that the the weakening dollar in the following days could help oil             to bounce to 51$ and after that we could see the decline down to 44$. That would give us a perfect buying opportunity.

Holding ERX and individual oil             shares.
6 months ago
Comment: Maybe today we will start the decline into the DCL.
That's why I told you there is no need to rush with shorting oil.
Not too much happened in the last 2 weeks.
val_trader
6 months ago
What about opening a short position from here ?
Reply
lux7
6 months ago
Do you think that the fall in prices is caused by oversupplied market?
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BeLyKan
6 months ago
should I hold my long position and wait 50.x to exit. Thanks
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plok
6 months ago
Thanks for the update. Definitely appreciated!
+1 Reply
AYosof
6 months ago
You are saying it is going to fall to 300 ema? Not sure but, probably 100 or 200.
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NihalCassim
6 months ago
Thanks. Great report. Was awaiting your update. Good to see you still looking for the third cycle.
+1 Reply
Constantino
6 months ago
price wont let us go down form there 51. 51/70 would be the right price short https://www.tradingview.com/chart/tK74JBMA/
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Constantino
6 months ago
snapshot

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Benztownguy
6 months ago
would this be a good moment to open a short position with target @approx.45?
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mabaert PRO
6 months ago
Oil broke out of the upwards channel on the 4H. After a pullback, could this the big downride?
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grappa01
6 months ago
what's mean DCL ?
Reply
Nightstar grappa01
6 months ago
Daily Cycle Low. Google 'Cycle Analysis'...
+1 Reply
Nightstar
6 months ago
I am short Crude as of this morning to hedge against my Long. I expect some sorts of DCL over the next few days followed by the resumption of the current trend --- towards $60 a barrel, give or take.
+1 Reply
mabaert PRO
6 months ago
could the big brake be happening now?
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MMadryga
6 months ago
Crude build 2.35 mln barrels
Cushing draw 1.03 mln barrels
Gasoline -1.48 mln barrels
Distillate -1.15mln bbls
Reply
mabaert PRO
6 months ago
I'm thinking about shorting oil tomorrow when/if it hits 50.9. advisable? Will you update the oil chart tomorrow?
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NihalCassim
6 months ago
Short now? If I'm itching? Just for a buck or two?
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avento
6 months ago
Arpi, in your opinion how oil will react to such bad nfp data and weaking dollar throughout next week?
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guidorizzato6969
6 months ago
I chartwatcher
based on what happen this week and the last news are you still waiting for the 44$?
thanks

Guido
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ja.piotr.bor guidorizzato6969
6 months ago
There was very weak $$ today, due to NFP and still it doesn't come up (normally it's inversed positioning). I know it creates, pressure on oil, because weak economy/labour market, but it should pop more. I expect drop, my buying level is at 43$...
Reply
guidorizzato6969 ja.piotr.bor
6 months ago
thanks
Reply
guidorizzato6969
5 months ago
Hi Chart still thinking short position or something change Now ?
Reply
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