Demand look very strong but even with momentum in their climax is not going any higher...Tomorrow will confirm is phase d is about to start
Comment
⋅
We are in phase D and bull will retest the last point of supply $46
Comment
⋅
The big crash was not so big but Roma was not burn in one day. The 4hours has room to grow if Api Report is bullish but is also ready for a bigger dump if things get out of hand because the daily momentum is going down...If you use momentum you know that sometime the buying force does not exceed the breakout from negative zone in the 4hours if the daily is negative and if the fundamental catalyst is not there today we are going into a continues selloff until the daily get into oversold territories... How to play safe: buy golden crossover in smaller time frame 1hour for a much bigger breakout especially in the public paticipation zone and get out on the exceed zone when the 15 minutes tf is setting for a dump and the 1h tf follow.... At that point short hard and make a much bigger profit
Comment
⋅
The law of effort vs result 47.80 with an strong momentum but failing to make a new high...this only can mean that they are unloading in anticipation of a change in a trend...Will this new supply be absorbed and if it is $48-48.12 is a much bigger wall
Comment
⋅
Supply absorbed and still room in the 4hours..This look like a much bigger utad test...Shorting soon againg
Trade closed manually
⋅
At this moment. All distribution phases has been absorbed by demand 49.49.50 is a new point of control for bulls ...bullish sentiments is strong and the answer is volume profile...Volume profile show you new developing of futures strong demand areas or new supply entering the market...Adding this new tool to your chart will lead you to answers when all indicators are getting Crazy and a new trading range is developing... Thanks to this crazy action i have learns new ways to stay ahead of the game and i will use it on my futures study's... The big crash was not big but it really show us how strong demand really is and the pisibilities oil bulls have to take it above 54 when opec offer a better deal. Thanks for following me. This chapter has ended and a new one will begin
Omg ! How did you get phase D beginning so precisely ? Did you edit the graph on July 21th ?
UnknownUnicorn762819
⋅
@cigir,not you can't edit what you post... Timing is everything and if you apllied it correctly with oil rig counts and reports days it work perfect
cigir
⋅
@asabastian, Can you show me how you did ?
We are in a winter phase since march from what I can see, and looking at the short covering trend, this phase should end at the end of the month.
The crash is hard and clean but I doubt it will pass 45.5, 43.5 and 42 support line. I see an ascending triangle right now so monday and thuesday it could bump at 45 and go bull already.
UnknownUnicorn762819
⋅
@cigir,if production get more crazy forget about institution gettng ready to acumulate at support line... 39 will be the new acumulation line..Just let me tell that there are big players and then the whales or giants and everyone is planning to get rid rid of their position little by little but when fundamental is not helping, the one that pull the trigger first is the one that will survive and this will make oil sink,so yes 42 will atract demand but how strong will it be?... In this cycle they tested and oil bulls were hunger but not strong enough... Now the will make it safe at 39-42 and will drive prices up to $50 if fundamental give a reazon so it can't be call manipulation and then throw a much bigger bomb that will send prices to $30
cigir
⋅
@asabastian, But the news is saying China demand is growing and OPEC cuts is working (Saudi effectively cutting exports to US etc.). So the news and reports are bulls.
And institutions seems to already have accumulated and are still bullish. MM have not sell any of there longs positions. But on the contrary they have steadily get rid of there shorts since March.
I totally hope you are right on this one, but I will tightly protect my shorts on support levels because my view is much more neutral/bullish.
UnknownUnicorn762819
⋅
@cigir, ALL THAT DRAMA IS TO ATRACT THE PUBLIC BUT PLAY SAFE...SUNDAY WILL CONFIRM ANY CHANGE IN PREPARATION FOR API REPORT
cigir
⋅
@asabastian, Yeah that is a real possibility too. Take care my friend !
getmadz
⋅
Are we near to phase D now?
UnknownUnicorn762819
⋅
@getmadz, yes however depend on bullish data they will make another attempt