chartwatchers

OIL - Slowing rally

FX:USOIL   Crude Oil (WTI)
2821 22 54
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.
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.
Hi Chart still thinking short position or something change Now ?
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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
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$...
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guidorizzato6969 ja.piotr.bor
thanks
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Arpi, in your opinion how oil will react to such bad nfp data and weaking dollar throughout next week?
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Short now? If I'm itching? Just for a buck or two?
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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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Crude build 2.35 mln barrels
Cushing draw 1.03 mln barrels
Gasoline -1.48 mln barrels
Distillate -1.15mln bbls
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could the big brake be happening now?
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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.
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