Higher high again. This is how bull market works. You get on board , sit tight and let the position work.
Though yesterday I closed some oil June contracts , I bought ERX at the same margin impact because I think ERX will make more profits as the stock market is rallying by itself so oil stocks will rally even more. The stock market rally and the oil rally wil support each other.
Briefing: we had 2 weeks of consolidation, breaking below the 10 EMA but the 20 EMA caught the price and we are bounced from the 20 EMA and break above 300 EMA . If we are holding these gains today and close above the 300 EMA we will be heading to 50$. I'm looking forward to see a slow but unstoppable move above 50$ in the following weeks.
Now it's time to watch the news. The news will be starting to talk about increasing demand and decreasing supply. This is the green light when everybody will feel safe that the path is clear and oil is in rally mode.
So we will have everybody and his dog on board now.
The panic buying is starting. We are over the half of the intermediate cycle so I think we will have the top in 4-5 weeks. Oil shares might run for more after oil topped - same like in gold and GoldMiners - in the euphoria so when I feel oil has topped I will move all my capitals into ERX and other oil stocks.
And I want to remember you one important thing: The sub 30$ oil prices are history .
Though yesterday I closed some oil June contracts , I bought ERX at the same margin impact because I think ERX will make more profits as the stock market is rallying by itself so oil stocks will rally even more. The stock market rally and the oil rally wil support each other.
Briefing: we had 2 weeks of consolidation, breaking below the 10 EMA but the 20 EMA caught the price and we are bounced from the 20 EMA and break above 300 EMA . If we are holding these gains today and close above the 300 EMA we will be heading to 50$. I'm looking forward to see a slow but unstoppable move above 50$ in the following weeks.
Now it's time to watch the news. The news will be starting to talk about increasing demand and decreasing supply. This is the green light when everybody will feel safe that the path is clear and oil is in rally mode.
So we will have everybody and his dog on board now.
The panic buying is starting. We are over the half of the intermediate cycle so I think we will have the top in 4-5 weeks. Oil shares might run for more after oil topped - same like in gold and GoldMiners - in the euphoria so when I feel oil has topped I will move all my capitals into ERX and other oil stocks.
And I want to remember you one important thing: The sub 30$ oil prices are history .
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.