Seems there is no more space for oil to stay undecisive. Today or latest monday it will break up or down. from the current form. If it breaks down 41,80-42,00 is the first serios resistance. If it breaks up it could test new hights. From fundamental issues we are close to August - ussually bad month for oil price. and it would be normal to go down. If it goes...
Wait for 46 . Be sure it is confirmed 2 times on hourly chart and go for it. I wouldn't long it before it touches 46. SL 45.82 TP1 47.20 TP2 48 TP3 >48.5
Yesterday I started adding SH. I bought first 75 shares. I will be approximatly lineary adding SH shares. When it comes to this year S&P record levels I will check for the break and if there is no break possible add larger quantitiy. It is not for short term traders. FED and other central banks are doing everything possible to keep feeling of "heaven"
I might take a risk and buy some JDUST &/or DUST. Gold is still strong bullish so this trade is very risky and I will make final decision when I see gold direction. SL & TP will be determined according to Support and resistance zones. I woild like GDX & GDXJ to go a bit higher in overbought situation and then enter my short.
Stocks up - gold down? The lower channel border is in danger. soon we will see if gold goes back in the channel or makes correction. Two supports waiting - around 1357 & 1350 I will not enter short trade. Volumes low, bullish signals still high.
Wait and see - if 45,85 broken SHORT if not LONG in triangle. By the way yesterday I sold all oil stocks I was keeping from time oil was app. 33. I'm sure correction will come during summer time when I will be back on boat.
Yesterday I sold my SH postion and bot SPY at 201,56. I will keep it long till 205,95 an sell 1/2 or full position. If it doesn't reach it today I might sell at even lower point. If it goes up I will start buying SH. Risk reword midterm/longterm is much better in SH. At this moment I wouldn't suggest to buy SPY any more.
Added 250 SH at 19,78. Not for short term trades. I will wait for summer low.
I had fun scalping with UWTI/DWTI last days but the room is getting smaller and smaller. Aside from triangle formation a strong resistance around 49,20 has formed. If this resistance broken way to 51,20 seems free. MACD is bearish, RSI slowly going away from overbought situation, fundamentals unclear (unstability in some producing countries, USA production...
Ex support now strong resistance - horizontal chanell. Also potential donward chanell formed. Possible drawdown to 1220.
Resistance from 2014 holding as support, RSI oversold, MACD seems to turn bulish. I have take long position. TP1 fro me 88-89, TP2 99 (technicaly 101/102 but I will step out sooner). LABU +5,57 CELG +2,21 CNCE + 3,77
second bounce be carefull - it can go up to 1266, I expect that 1255 will hold.
Second support tested and pull back. If borken 1266 will be reached