Hi Guys,
I share with you the weekly economic analyses I prepared for myself on Mondays. These analyses have targets, entry and exit levels. I constantly re-evaluate the transactions according to the anticipated and actual status of the analysis. Do not forget that these are just analyzes. Monday's analysis is the roadmap I gave to my questions about what I can do this week.
The levels in the Crude Oil analysis of March 27 are still valid. The line I specify as support level will be the first target after x point. I estimate that these levels will be between $ 48 and $ 50 (relative to time). These levels need to make a new review to answer the question of whether the new buying opportunity is right. RSI and volume should follow very carefully.
Recently, some fundamental changes have come to the forefront. The increase in the amount of stock and the increase in the price together are multiplying the data to be examined.
I will write the data, which is some critical aspect that should be followed.
- Crude oil stocks data
- Refinery operating and maintenance times
- Refinery crude oil stocking quantities
- Seasonal production and stock data
Please Read very carefully until the end of this post!!!
The requirements of the strategy;
- The price must reach the target area (X POINT)
- RSI level should be in the overbought territory when the price comes to POINT OF X on the daily chart.
- Price Must have come to POINT OF X with, Fibonacci retracements and resistance line level which I signed in the graphic.
- Price should be followed very carefully in 1 or 2 week period.
- Monthly, weekly, daily and 4-hour charts must be examined and evaluated individually.
- Fundamentals should be followed very carefully. (stock data, etc..)
- You have to use the option or future market to hedge your strategy or position.
- If there is a discrepancy between these data, the analysis should be reassessed and modified if necessary. “No man ever steps in the same river twice!”
This is just a technical analysis. No one has the ability to know the future.
I prepare the entry and exit levels in my analysis according to my own risk profile. Risk profile and money management are personal matters. Everyone has their own risk perception. You should assess your risk profile and change if it's necessary. Technical analysis; Creates a forecast of the time of entry and exit after the fundamental is completed. In capital markets, without money management, you just lose money. Do not start without knowing the money management because the losses will be much more dramatic if you are doing leveraged trades.
There is a very critical issue. If you do not hedge your positions and strategies, you will be very sensitive to the dramatic movements that can be experienced up and down. You should take a position in options and futures market for this. Futures and options market is a very deep and wide issue. If you do not know how to hedge your position, how to protect your position, how to trade options and futures, do not trade stocks. They will take your money from your hand !!!
Doga.
Be safe...
