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  • #5,081
  • Nov 20, 2019 6:15am Nov 20, 2019 6:15am
Short opened at 55.60, may add another one around 55.90
  • #5,082
  • Nov 20, 2019 8:18am Nov 20, 2019 8:18am
What I'm looking at.

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Attached Image (click to enlarge)
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  • #5,083
  • Nov 20, 2019 9:27am Nov 20, 2019 9:27am
News in 5 mins
All charts/ideas based on UK time zone
  • #5,084
  • Nov 20, 2019 9:39am Nov 20, 2019 9:39am
Bought at 55.70, but will be cautious as my mid term view is still south
  • #5,085
  • Nov 20, 2019 9:51am Nov 20, 2019 9:51am
A possible move back to 57 +

Need to hold 56.23 imo

Resistance 56.54

News candle (30 min) has produced 60+ so far
All charts/ideas based on UK time zone
  • #5,086
  • Nov 20, 2019 10:26am Nov 20, 2019 10:26am
Hopefully this bullish thrust should help to break that stubborn resistance around 57.8 and we get a push through 58 to end the week.
  • #5,087
  • Nov 20, 2019 10:30am Nov 20, 2019 10:30am
Quoting luckyvictor
Bought at 55.70, but will be cautious as my mid term view is still south
Close at 56.90, short open at this level as well
  • #5,088
  • Nov 20, 2019 10:30am Nov 20, 2019 10:30am
56.83 a good candidate for support, caution below

57.14/35 initial upside targets

that's how I see it
All charts/ideas based on UK time zone
  • #5,089
  • Nov 20, 2019 11:11am Nov 20, 2019 11:11am
If you:

- buy in point 1 in order to catch breakout above yellow resistance
- and place your SL in point 2 (under the previous minor low) ...
... then - my apologies. it was the worst trade for the week possible.

What the last bar is telling us?
Too much volume on up-bar with the hitting of center-line, wide range, penetration of previous minor high (blue line). This is more bearish information within described facts. So, I expect at least a pullback down because market is overbought. If we will see NS+DB (more likely - tomorrow) - it could lead to a new attack of bulls on the center-line.

So, in the longer perspective, #oil price has more odds to reach new higher ground.

Follow My Thread
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Oleg Alexandrov, market analyst. Find me in Google
  • #5,090
  • Nov 20, 2019 11:39am Nov 20, 2019 11:39am
Quoting luckyvictor
{quote} Close at 56.90, short open at this level as well
This bounce is rather strong, quite surprised, given that EIA data is not that bullish (just slightly better than expected?).

So I remain my bearish view and open another short at 57.20
  • #5,091
  • Nov 20, 2019 11:45am Nov 20, 2019 11:45am
Quoting luckyvictor
{quote} This bounce is rather strong, quite surprised, given that EIA data is not that bullish (just slightly better than expected?). So I remain my bearish view and open another short at 57.20
Either the markets liked the news or the market makers used the news
All charts/ideas based on UK time zone
  • #5,092
  • Nov 20, 2019 11:55am Nov 20, 2019 11:55am
Quoting luckyvictor
{quote} This bounce is rather strong, quite surprised, given that EIA data is not that bullish (just slightly better than expected?). So I remain my bearish view and open another short at 57.20

We may see some profit taking into settlement especially if Dow stays down.
  • #5,093
  • Nov 20, 2019 12:00pm Nov 20, 2019 12:00pm
My analysis suggests ...

Pros in = a new high possibly into the close

Pros out = no new high and sub 56.83

Good night
All charts/ideas based on UK time zone
  • #5,094
  • Nov 20, 2019 12:40pm Nov 20, 2019 12:40pm
Quoting sponge
{quote} Either the markets liked the news or the market makers used the news
Usually they use the news, and now there is another news of trade talk delayed, Dow has reacted already, just waiting for WTI to react
  • #5,095
  • Nov 20, 2019 1:00pm Nov 20, 2019 1:00pm
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yes yes yes
  • #5,096
  • Nov 20, 2019 1:40pm Nov 20, 2019 1:40pm
A strong bounce off of several levels of support (horizontal, trendline, MA) with good volume amd momentum. Upside target $60 stop loss below 54
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  • #5,097
  • Nov 20, 2019 1:45pm Nov 20, 2019 1:45pm
Quoting detector
Weekly rising supp line is at 54.50, any rise is still not over until this has breached so caution, seems the 4hr has been breached and at a similar pattern 80 bars back, what we never expected, did, so it could again, not in ATM but watching, good chess all, D
1 like pretty sums up the value of my input up, thanks for the like.
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,098
  • Nov 20, 2019 2:53pm Nov 20, 2019 2:53pm
I was trying to find some examples of where the pole base has failed to be hit and it looks like it gets hit in the end. Question is do we go higher for yet another stop hunt beforehand?

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  • #5,099
  • Nov 20, 2019 3:05pm Nov 20, 2019 3:05pm
Quoting aus1way
I was trying to find some examples of where the pole base has failed to be hit and it looks like it gets hit in the end. Question is do we go higher for yet another stop hunt beforehand? {image}
Cannot answer your question precisely Aus, but it looks to me it is on it's way to 65, how it gets there could be as broad as it is long, seems the Kansas shuffle may have taken many off guard again, I could and have been wrong in the past but would consider what could happen, good trading, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,100
  • Nov 20, 2019 4:23pm Nov 20, 2019 4:23pm
The bull run seems overly large for the storage number the same as expected.
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