I just noticed how similar is the present situation in oil to the 04.06.2015 situation... We have a beartrap : a lot of people shorted oil in the breakdown on 02.11.2016... I want to see their short squeeze tomorrow or Monday when we break above 34.52... That short squeeze will push price to the 100 EMA and to the 200 EMA. I think this daily cycle will top at the 200 EMA (40-42)
Watch how similar the divergence between the price and the MACD/RSi (blue line) today and in 2015 March-April... In 2015 October when price was falling we didn't have this divergencies... (Red line)
Today we closed above the 50EMA despite the weak oil inventory data.
I still see a lot of people posting short possibilities here. I think it's a suicide plan to short oil here. We are at the end of the intermediate cycle...
A junior bull is born during these days...
評論
CURIBBA
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Thanks Arpi for sharing. To take advantage of the rise in oil prices by limiting the risks related to the contango presented by ETFs and ETCs, I wanted to buy Conocophillips shares. What do you think about it ?
tbuckle
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Can you please post your thoughts after todays price action (Friday 2/26/16). Thank you.
chartwatchers
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I'm planning to post a very detalied analysis in OIL this weekend.
1hr,4hr, 1D charts. Also I will post COT reports regarding OIL.
I'm still quite sure that the bottom is in , and we are on the way to 40$. Bears are defending 34.50-34.80 very heavily.
AhmetAlperOzen
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Very good analysis. Thank you. How did you found out the similarity between 4.6.2015 and now?
chartwatchers
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I was long that time also...
I have a De JA Vu.
:)