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botje11
Feb 16, 2018 12:44 PM

Oil is making a rising wedge, target around 58 做空

WTI CRUDE OILTVC

描述

Crude Oild is making a rising wedge, it has all the characteristics of it. This means it will retest the lows at 58 very soon

评论

Oil seems to be planning something else, this could be the false upwards oubreak, i am closing my short around 62,50

评论

This small H&S could mean a reversal and confirming the false outbreak. If not, this would probably only be a small pullback towards the 62,0

评论

It made a small false outbreak and than dropped very fast after it. 61.80 is a support, if it drops below that i think we will look up the 58 levels again

评论

A bit late, went through the stop of 62.50, Oil clearly has some other plans. It has made a bull flag and will probably go above the 64

评论
AhmedHamdan1
what is next ?
botje11
@ahmedhamdan, 8 months ago i was extremely bullish on OIL, but the stock market have entered a bear market (in my opinion) so i think the upside for oil is limited now. Short term it will go down i think, unless the high gets broken
AhmedHamdan1
@botje11, Thank you for your immediate feedback
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