Forget about the inverse head and shoulders crap. We arent rallying. We are going to new lows. YOY surplus is growing as we now enter seasonal maintenance season. Global production is surging. Storage is full. Market has clearly topped. 50 Day under 100 Day Seasonality is always weak this time of the year. Best case scenario opec freezes as levels that are too...
Continuing the theme of oil, add one more technical analysis. Other indicators for oil 5 from 5 show us a trend reversal, one and the last signal indicates as technical analysis confirmed this, as can be seen from the chart, the price of oil is in reversal zone that shows us Bears open short positions, and Bulls close long positions, the movement of prices on the...
PRICE ACTION TRADING. STEP NINE Find a supply and demand zone. STEP TEN Find a PINBAR at demand or supply zone. PRACTICE,PRACTICE,PRACTICE AND PRACTICE SEE YOU AT NEXT VOLUME !!
Hello Traders, Similar to my CL1! and USOIL charts I posted yesterday. Chesapeake Energy formed a very similar structure. I would be interested to see how well these 3 charts correlate with one another. The charts I am referring to are found below. Best, Chartistry