Hi Folks:
I have been scalping instead of holding positions as it looks like volatility at these levels is very high. Today's daily candle shows important rejection from the top so far, but I won't rely yet on a reversal. "Too easy" for bulls to give up at this point when their dreamt triple digits is not that far.
They are trying to send prices slightly above 90 to create a floor at 80 bucks or so, that is the ideal range for producers, not for consumers with such inflation and after a global crisis.
I am opening positions from the previous daily top and adding in different stakes every 50 cents up and so far it is working good. The only problem is that if a reversal occurs then I won't be holding important positions yet.
With interest rate hikes the pressure over OPEC+ will be higher and they could be opening taps a bit further to prevent prices to go very high that may hurt demand.
STAY SAFE. Cheers
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I have been scalping instead of holding positions as it looks like volatility at these levels is very high. Today's daily candle shows important rejection from the top so far, but I won't rely yet on a reversal. "Too easy" for bulls to give up at this point when their dreamt triple digits is not that far.
They are trying to send prices slightly above 90 to create a floor at 80 bucks or so, that is the ideal range for producers, not for consumers with such inflation and after a global crisis.
I am opening positions from the previous daily top and adding in different stakes every 50 cents up and so far it is working good. The only problem is that if a reversal occurs then I won't be holding important positions yet.
With interest rate hikes the pressure over OPEC+ will be higher and they could be opening taps a bit further to prevent prices to go very high that may hurt demand.
STAY SAFE. Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.