Oil below Daily 200ma - Testing uptrend

NYMEX:CL1!   轻质原油期货
238 0
Hello Traders,

Oil is at a true crossroads, testing whether the bull thesis shall be ruled correct.

We have had a daily close below the 200ma and as P.T.J says,“One principle for sure would be: get out of anything that falls below the 200-day moving average.”

With that being said, oil has tested the uptrend multiple times and we are seeing some weakness across commodity markets as a whole. We are awaiting longer term short positions to trigger when all our filters are met, oil being one of them.

If I was looking to enter bullish then oil would have to close above YTD resistance at $55. That seems an unlikely scenario, but if oil can manage a close above there even though the fundamental narrative does not align then that is a clear display of momentum being skewed to the upside and we are long for a short period. For any bullish positioning on a break higher the immediate resistance level to monitor would be $60.

If we break lower and out of the triangle then I would be more inclined to short with some key support areas where I will shave some of the position off. Key support areas: $37-$39, $26, anything after $26 then I just hold on to the trend until it stops and reverses thus trailing me out of a position.

Please see the linked "related ideas" for some more info or proxy to the oil trade which has already begun. I also tend to update thoughts and technical analysis more often on my twitter page. Feel free to follow me: https://twitter.com/DannyB_NYC

Weekly Bar Chart: Wedge Continuation?
交易开始: Triggered into a short position.

Trade smart, and with a plan.
评论: Current Fibonacci Levels *Daily Bars*

Still trading well below Daily 200ma = Bearish Bias.
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出