After breaking down the 200 MA 8 days ago oil recovered. We had 2 down days and almost tested back the 200 MA again.
I was waiting for a trick but it seems Saudis really want now oil to go up again. So their statement was true yesterday as today we had a follow through. I catched the bottom at the 200 MA so I'M not worried missing these 2 days.
I'M almost sure that we are not going to break below 39$. The rally is starting.
Today we broke above the 50 EMA. Usually we have a small pullback from this level - 1 red candle- so I'm planning to add to my position on Monday.
If you nervous to get left behind at the station one can start a position today before the close and add on Monday.
We will be buying every dip from now as a new intermediate cycle is starting. We have weeks to run.
I was waiting for a trick but it seems Saudis really want now oil to go up again. So their statement was true yesterday as today we had a follow through. I catched the bottom at the 200 MA so I'M not worried missing these 2 days.
I'M almost sure that we are not going to break below 39$. The rally is starting.
Today we broke above the 50 EMA. Usually we have a small pullback from this level - 1 red candle- so I'm planning to add to my position on Monday.
If you nervous to get left behind at the station one can start a position today before the close and add on Monday.
We will be buying every dip from now as a new intermediate cycle is starting. We have weeks to run.