Publishing this ahead of the Oil
report as there won't be any more good opportunities to go long after it, unless we get a dip and you have fast hands. While many thesis claim that we are still in a bear trend, we believe that we have completed a bear cycle and are now ready to make a bull cycle. If today's inventory report reports a draw (which we expect) then it should give reason for price to move back up. A weaker dollar has also been supporting oil
prices as of lately.
gets really bullish
starting this week and we don't expect this pattern to change this time around. ADX
still shows a bullish trend
and we have been flirting with the channel for an entire week, all selling pressure has been soaked up and we are in a bullish pennant
Stay safe everyone and stay tuned for more updates.
Our stop losses are at 48.30. If you understand the risk and agree, pull the trigger.