About meI'm a UK economics student, with a dream to work, trading oil and gas in a Houston IB.
Love the US.
Love Sales and Trading.
Love the oil market.
If you have any advice that you think might be helpful, send it over. It will be appreciated.
Head and shoulders seems to have formed between support and resistance lines. Meanwhile, US warns countries not to buy oil from Venezuala, reducing the demand for Venezualan Crude, therefore also supporting a decrease in price.
Perhaps it is time for a short on crude oil, despite the recent uptrend. What are your thoughts?
Read my last post before this one. The price did continue to increase and has broken through the trend line. It will now hit first resistance.
Then I expect a small pullback, before continuing towards second resistance due to the fact that price hit the bottom of the long term trend line and has now switched direction.
Price hit the first support level and pushed back into the long term trend line (blue). I am going long, expecting the price to reach the top trend line (white), and possibly breakthrough past this level, towards the first resistance line.
Just something I quickly through together. Just trying to earn enough points to speak in the WTI chat.
Please give your opinion on the future of crude oil prices in February - My indicators suggest even more reasons to be bullish.