Our overview: Weakness and negativity prevail waiting the API report tonight. In the overnight session price steady at the support area @$73.00. Technical signals: RSI negative and Stochastic negative. Trends analysis: Primary(purple): downward impulsive structure wave 5, intermediate(green): corrective structure wave B, minor(yellow): impulsive structure wave...
Our overview: Definitely OPEC+ policy disappoint the market. The Cot report released Friday, referring to data until the previous Tuesday, then few day before the OPEC+ meeting, highlighted that the commercial barely increased(1%) their net long positions in options, reverting the trend of the previous report. Furthermore, a news from 'businessinsider.com' say...
Our overview: Definitely OPEC+ policy doesn't convince the market. Massive selloff with more tha 500K contract traded, push the price to re-test the trend/neck line. Market could enter in latera trading range. Technical signals: RSI negative, and Stochastic negative. Trends analysis: Primary(purple): downward impulsive structure wave 5, intermediate(green):...
Our overview: Strong GDP in US, and hope on the OPEC+ meeting, offset the build in crude stockpile. A bigger then expected production cut would push for a Christmas rally. Today is mandatory stay neutral at least till is gonna be clear the OPEC+ policy. Technical signals: RSI and Stochastic positive. Trends analysis: We maintain an overall positive overview with...
Overview: After several tentative, finally the trend line has been broken. Yesterday's CoT report (Commitment of Traders) highlighting that commercial and not commercial are reducing their net long positions in options. This could be a signal that area $73/$75) is an accumulation's area, at least for the current conjuncture, confirming our strategy. Eye on API...
Overview: Weekness due to the OPEC+ meeting uncertainty. Strategy: Positive Delta looking for a technical rebound and waiting for the CoT report which is gonna be released today. We hold moderate positive position. Our current delta: @$74.20: +0.20 Technical signals: RSI negative, Stochastic in oversold area. Trends analysis: primary(purple): corrective...
Overview: The price just approach the first important resistance area, a downwards trend line. This dynamic resistance has already rejected prices 3 times since its formation. Lateral trading waiting Wall Street's short session. Strategy: we hold delta neutral position waiting for a breakout. In this case, we will go long with a stop level @$76.30. Our current...
Overview: EIA data and OPEC+ meeting postponed, make tumble the market. My dear volatility!!! Strategy: Neutral. Follow the market. Our current position's Delta @$76.39: 0.03 This are all the corrections we made today 5)rebalance: @$76.39 (from 0.23 to 0.03) 4)rebalance: @$75.70 (from 0.62 to 0.03) 3)rebalance: @$73.90 (from -21 to 0.30) ...
Overview: Another massive build on API crude oil stocks, conflicting with a big distillate inventory draw, and next Sunday OPEC+ meeting are the main factors driving the market to a stall awaiting the official EIA data scheduled today. Strategy: Neutral following the market. Our current position's Delta: -0.09 barely negative Last rebalance: at...
Overview: Awaiting the FOMC minutes and API crude oil stocks Strategy: Our current position's Delta: +0.10 (rebalanced at $77.18 from -0.73). Follow the market. Technical signals: Stochastic crossed the signal but still in negative territory, RSI in neutral area. Trends analysis: primary(purple): corrective structure wave A ...
Overview: Bullish pressure starting in the overnight session, push higher the close of waveA (minor trend) at important resistance level. First target to $78.50 has been reached. Strategy: We hold negative delta since $77.60 Our current position's Delta: -0.50 negative, (increased from -0.23)looking for the first bearish target Technical...
The WTI crude oil market experienced a robust response, essentially reversing the downward trend observed on Thursday's session. Currently, the market is exhibiting a corrective structure, and we are monitoring whether it follows a pattern of 3 waves (ABC) or 5 waves (ABCDE). As of our current position, the delta stands at -0.03, indicating a neutral stance. The...
Overview: With the yesterday's sell off, the stochastic in oversold territory and in divergence as well as the RSI, we consider closed the corrective structure(ABC) on daily time frame. A technical rebound is likely, to bring the market in a trading range area between $74 and $80. Only a breakout of yesterday's low ($72.40) will change the daily's structure from...
Overview: with today's fall in price, having reached $73.80 support area, and with a divergence on RSI, we consider close the corrective structure ABC on the daily time frame. Strategy: Moderate bullish position's delta , Our current position's delta: +0.30 Bullish first target: $75.00/$75.30 Bullish second target: $76.00 Mandatory rebalancing level / Stop loss:...
Overview: Stochastic in oversold area suggest that a technical rebound is possible. Our current position's delta: +0.20 First target: $77.40/$77.50 Second target: $78 Stop loss/mandatory level of rebalancing: on breakout $76.30 First target: $75.50/$75.30 Second target: $74.90
Our current position's delta: -0.30 Overview: RSI entering in negative territory below 45, confirm that wave 5 is started. Target on $77.50 level has been reached in the overnight session, where we did the first rebalance of our position's delta(from -0.45 to +0.05). Other rebalance on the top of the channel(from +0.18 to -0.08) Current position's delta: -0.15 ...
Our current position's delta: -0.20 Overview: positive data on inflation spurred a new upward swing, moving the closing of wave 4. An RSI divergency suggest tha could be the beginning of wave5 First target: $77.50 Second target: $77 Stoploss/Rebalancing level: daily's high See you all next update.
The target of our previous analysis has been reached. Our current position's delta: -0.06 Scenario: we consider wave4 closed, even if the price could experience further upward acceleration till area $79.50/$80. We will follow the market, rebalancing the delta if necessary, waiting the signal of the beginning of wave5.