Short Brent Crude : 1. RSI & MACD Divergence 2. At 200 DMA - 44.50 Short now with Stop loss 46.20 for targets of 35 in coming 5-6 weeks !!
The Brent oil price in roubles for quite some time is in the range of 3,000 to 4,000 rubles. Last time he played at the futures because the net never traded. From the calculation of current prices and the contract specifications, it is necessary to buy SI-12.15 and buy BR-11.15 in the ratio of 2.1 to 1 i.e. for every 10 contracts SI buy 21 contracts BR. Fixation...
We are now in the trend transition term. The bull is still strong, but bear is growing. The MACD goes bearish cross but price is still above SMA(12). I am still waiting confirmation for going bearish. Target 1: 63.8 If 63 breaks, Target 2: 60.29
Took 16% profits on the long side over three scaled in positions. Technically i should not short at this stage as renco looks strong. but under the fundamentals of the market it makes sense since oil is at record production. that should help to keep a lid on prices. I predict sideways movements for a while to come and a possible short term correction to value.
Another Angle from Ranko Candles. which are more predictable then normal candles i think.