📌 Oil - Election Positioning Map
Here we are approaching the strong 41.5x resistance, the same levels we have been tracking since calling an end to the v shapers rebound. OPEC now has the difficult task of provoking price into action, any manoeuvres on the supply side will not be able to offset the demand shock from further restrictions and...
On the top, we can see a rising wedge and we already break out the resistance line.
waiting for 23.6-32.8% level Fibonacci
The additional shift of workers to remote work is a bad prospect for the oil industry. This means that tens of millions of people in developed countries will greatly reduce the movement of their cars.
Only this factor for 2021 means a...
a lot of questions about OIL.
on a daily the price is currently consolidating within a wide horizontal trading range.
41.0 - 41.5 is its resistance
36.1 - 37.0 is its support
while the price within a consolidating range, we expect bullish movements from its support
and bearish from its resistance.
for now, I remain...
Price formed a sort of an apex - liquidity block and very soon there will be breakdown or breakout from that box. From very weak bullish rise we can see that bids are exhausted and price should seek liquidity lower running down to the next major liquidity base to fill that low steam bid rise.
Top Absolute Correlation 1 Day
1 XTIUSD - XBRUSD 98.6%
2 XTIUSD -...
I WANT TO GET THIS UP FIRST, AND WILL WORK ON IT MORE LATER.
Notes: This is 6-day bars (2-day basis), take it with a whole can of kosher salt. The point here is that the purple wave dictates price until price gets in front of it AND THEN passes the retest that is 30 months (2.5 years) out. The reason for this draft is so we can get on the same page before...
======================================= September 28, 2020 -------------------------------------------------------> 10-02-2020
S&P500 Trade Setup --------------------------------
S&P500 Trades can be found in this post...
I know that many of you are struggling with making long-term predictions on wti.
being fundamental trader or technician, the future right now is unknown.
the only thing that we must admit for now is that the market is currently consolidating.
we broke below the uptrend parabolic channel and now we are trading...
This should bounce here, briefly, hopefully just enough to start loading Massively on the Dec. 2020, 25.00 PUTs - currently @0.60.
71 calendar days or ~61 trading days should be sufficient.
Wait for those PUTs to first settle down here, following the recent -20% drop - which we caught without sweat. (... it was obvious :-) See attached.