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USOIL: An interesting lookHappy New Year oil traders! I hope everyone had a profitable 2019 and will have an even more profitable 2020! I started looking at USOIL in different chart views instead of the normal 15 minute chart or daily chart. Looking at the 1 hour chart I see this nice climb in price and then this huge rounding over. I also see a divergence between the Stoch RSI and Moneyflow. Considering tomorrow is Thursday and the first trading day of the year, I am expecting that this rounding will continue to roll over as investors take profits from 2019. I put in a small position at $61.30 on Tuesday and am looking to take a small profit around $60.90 unless this goes into free fall, in which I will add to the position. I am putting a stop loss in around $62.00. This should go prior to the market open on Thursday. We'll see. Please click the thumbs up if you agree or if this is a help to you! Thanks and have a blessed 2020!!!
FX:USOILShort
by Trade4God
OIL REMAIN BULLISHAll non-OPEC producers were called upon to help stabilize the market b'cos their role was as critical as the role of OPEC members- and as we all know Oil demand is expanding at enormous healthy rate despite the slower global growth. - Eyeing = 56.1 very soon (within 2weeks) One of the famous oil investors suggest that freezing production or in other words urges them to slightly reducing production, - OPEC wanted to send a signal to the market that it wanted to lower inventories as a way of encouraging investments.....but no one knows if both OPEC members & Non OPEC members will buy this idea - nonetheless, prior to making up their mind - oil will continue doing what's doing for now & once they decides to reduce production? then we may see oil drop back south (46.1) before Christmas or by Christmas:)
TVC:USOILLong
by DR.
5