Though oil is quite bullish here I'm playing for a 4$ (maybe 5$) drop ( not 44!!!) on my private account for a testback of the blue trendline or the 50 SMA.
The RSI is printing a divergence and I think when the dollar is printing it's last bounce in the following weeks that will affect oil also, so it can drop into its daily cycle low.
It's not a "Let's bet the farm on it" trade. Just a small game I think this will be my last trade in oil this year.
NEW SHORT trade from 55.93$.
The RSI is printing a divergence and I think when the dollar is printing it's last bounce in the following weeks that will affect oil also, so it can drop into its daily cycle low.
It's not a "Let's bet the farm on it" trade. Just a small game I think this will be my last trade in oil this year.
NEW SHORT trade from 55.93$.
Note
Adding to the short position here. I see a key reversal forming by the day end.Note
Note
Playing out as expected. I'm wating for minimum 52.50$ as a test of the blue trendline.MACD is crossing over and giving the sign for the short also.
The nov.8 short positions are deep in profit by now.
Actually the cumulative P/L is in great profit on my account regarding this oil short.
Note
Not much of a pullback.I guess the drop continues today.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.