DislikedChina consumes around 13.4% of world oil. Don't expect prices to go down further Still Risk off until Chinese market is open.Ignored
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DislikedChina consumes around 13.4% of world oil. Don't expect prices to go down further Still Risk off until Chinese market is open.Ignored
Disliked{quote} I read an article today making a good case for a Chinese stimulus to combat the economic impact of the virus. If they go through with it, oil would be a major beneficiary.Ignored
DislikedObserving market closely... I will decide by the end of the next week the latst, when/if entering the WTI market before the end of FEB... Have to see how this settles in... The seasonality and this "situation" that we have now indicates (strongly) to be on the SOUTH side but remember, the seasonality is usually at inflection point in (middle) of FEB... so have to be careful since we are entering that next week and then even 1-2weeks after might make time to reverseAlso will have more that about the "health" situation
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DislikedMy thoughts on this pair are as follows, Considering the fact that we did gap down on the weekly open, price failed to break below the 04/02/2020 low at 49.28, as such the subsequent gap also got closed speedily, the last line in the sand or objective for further bullish continuation is an H1 close above the 51.40 handle, There are a couple of longer term momentum indicators that are beginning to point up, so with that said this weeks approach may be a little more cautious from the onset, This outlook becomes invalidated if we break that low and...Ignored
Disliked{quote} You imply it reached its peak aka never going north as UP (again)?Ignored
Disliked{quote} Bottom as of lowest as... going up (soon)? Why you said never than, when a guy said it might go NORTH (UP)? {quote} {quote} {quote}Ignored
DislikedHere's the culprit for resistance at 50.20 area, measured from last low. I still think we will go upside over 51Good upside targets poss 54 Jump ship below 50 {image}
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