OIL - the next target
Now we have left every important EMAs the next targets are the highs of the last years decline:
2015.11.03. high: 48.25$
2015.10.09. high: 50.85$
(Zoom out to see the red circles)
Everything is getting super bullish now in oil. These are the moments when all the traders realizes that the lows are in. The panic buying is starting.
At these point I wouldn't buy oil. It's starting to be the chase of the price. What I would buy is: ERX and XLE. These ETFs will make you much more profit...
Stocks are very close printing their DCL. As soon as the DCL is finished they will start a rally to the all time highs or making higher high. In these circumstances the oil related ETFs and stocks will produce a very nice run even if oil just stays in a range.
Oil might run higher than 50$. But we are getting late in this cycle : I would offer it for buying if it tests back the breakout at 46.45.
For those who are long with me my recommendation is to hold the position we will close the position around 50$.
2015.11.03. high: 48.25$
2015.10.09. high: 50.85$
(Zoom out to see the red circles)
Everything is getting super bullish now in oil. These are the moments when all the traders realizes that the lows are in. The panic buying is starting.
At these point I wouldn't buy oil. It's starting to be the chase of the price. What I would buy is: ERX and XLE. These ETFs will make you much more profit...
Stocks are very close printing their DCL. As soon as the DCL is finished they will start a rally to the all time highs or making higher high. In these circumstances the oil related ETFs and stocks will produce a very nice run even if oil just stays in a range.
Oil might run higher than 50$. But we are getting late in this cycle : I would offer it for buying if it tests back the breakout at 46.45.
For those who are long with me my recommendation is to hold the position we will close the position around 50$.
This usually lasts for 4-5 days.
Today is day 2.