Bounce Opportunity

NYMEX:CL1!   Hadapan Minyak Mentah Ringan
Dilihat 116 kali
116 5
Looking for a bounce from the sell off to current support.. RSI and Stoch look like they are about to turn upwards, too.

Idea Berkaitan

How where are you looking to close long or short is it looking to you?
Bryan_Ali tbuckle
@tbuckle, So I was short from last night until I posted this trade idea as a reversal.. The upside target for me is ~$53.40 where the selloff at 9am occurred today. Price is outside of the blue pitchfork right now which I think is bullish for the Asian session. From a longer-term perspective I am not so sure where the direction is headed. The charts had looked solid for a while but price has not been able to break through $55 which is concerning. Not to mention that a lot of the supposed reason for prices going up, OPEC and nonOPEC production cuts, may not do much to actually lessen the supply glut that currently exists. That is if all of the participants even comply with the proposed cuts. Additionally, there has been a rebound in the dollar which will act as a headwind to crude prices if a breakout occurs (check out the DXY weekly chart). Another headwind is US & Canadian shale production which has been coming online at a relatively high rate lately. But, there is still a lot of uncertainty with Trump in office- that is what has a chance to make prices shoot up for US crude oil, in my opinion, more so than the prospects of increased global growth or anything like that. If he imposes any border taxes that affect imports or if he causes international sanctions to be reimposed on Iran then you'd better hope you are not short. If anything, Yellen is speaking tomorrow so there should be a lot of volatility around then. P.S. I am a college student with little cash and a lot of debt- I don't have a position right now because I wanted to go on Spring Break, instead :P
tbuckle Bryan_Ali
@Bryan_Ali, Thanks for the response and taking the time to do so. I generally agree.
+1 Balas
What price are you looking at for the bounce? 53.3 ish?
Bryan_Ali tbuckle
@tbuckle, ya around there, top of the pitchfork channel- $53.50, at most.
MS Bahasa Melayu
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
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Laman Utama Penyaring Saham Penyaring Forex Penyaring Kripto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Dalaman Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Tetapan Profil Akaun dan Pengebilan Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikut Mesej Peribadi Perbualan Daftar Keluar