Crude has no bottom in sight. IF YOU TRY TO PICK THE BOTTOM PLEASE GET A HOLD OF US AND WE WILL TELL YOU WHERE TO SEND US THE CHECK INSTEAD. IT WILL BE LESS PAINFUL. :) BE PATIENT with crude. A bottom will happen soon enough but it will need to FORM a bottom first. We have no interest in shorting down here. Keep on watch list.
Crude is a trade we are stalking for 2016. We see the possibility of a bottom and will look to buy for a longer time frame. DON'T expect crude to bounce straight to $100...because it won't! We are taking a longer term approach to this. However we will still trade around the core position. We have a descending pattern that is one of favorites. We will watch ...
Don't get too excited for oil to jump. Price still trading in the price channel. Need more confirmation. I do like that volume is picking up so definitely lot of volatility. Remember, there are always day trades in both directions. They could be played based on where price opens and picks its daily direction.
Oil price looks will retrace to $40 per barrel in several days from now! If it can hit resistance on $42 it will go to test the next resistance on $46. Most of indicators that I used give positive signals because oil price is already oversold for a number of day. Just wait and see a good chance to go long with oil.