USOIL Trend Analysis

2018年2月18日

It would appear that the intermediate term trend is going through an ABC correction.

Supply Zone exists in the $53.50-$57 range

Long Term Price Support exists at $54

50% Fibonacci retracement exists at $54

Measured Move exists at $55

Channel Resistance exists at $62

Long(er) Term Price Resistance exists at $63

Short Term trend bearish

I'll go long when I hear "NEW BEAR MARKET FOR OIL?" on the news

2018年2月20日

注释

Worth noting the decreasing volume on this rally.

Think "B" might be playing out. Currently $62.25

2018年2月23日

注释

"B" was finally hit.
Long term fib resistance there.
I entered a short position.

2018年2月28日

注释

Unbelievably bearish oil report today. Usually don't put a lot of weight in Natgas/Oil reports because they seem to be somewhat inconsistent with how price responds to the report.

I've got to say, I love it when my technicals get supported by fundamentals. Usually the other way around.

2018年3月2日

注释

Up 14% on DWT, 8% SCO. Exited half on both. Stop loss set for over a 50% retracement and just letting the other half ride.