The SHORT idea remains valid so far. RISKY
Hi Folks:
I have been scalping instead of holding positions as it looks like volatility at these levels is very high. Today's daily candle shows important rejection from the top so far, but I won't rely yet on a reversal. "Too easy" for bulls to give up at this point when their dreamt triple digits is not that far.
They are trying to send prices slightly above 90 to create a floor at 80 bucks or so, that is the ideal range for producers, not for consumers with such inflation and after a global crisis.
I am opening positions from the previous daily top and adding in different stakes every 50 cents up and so far it is working good. The only problem is that if a reversal occurs then I won't be holding important positions yet.
With interest rate hikes the pressure over OPEC+ will be higher and they could be opening taps a bit further to prevent prices to go very high that may hurt demand.
STAY SAFE. Cheers
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I have been scalping instead of holding positions as it looks like volatility at these levels is very high. Today's daily candle shows important rejection from the top so far, but I won't rely yet on a reversal. "Too easy" for bulls to give up at this point when their dreamt triple digits is not that far.
They are trying to send prices slightly above 90 to create a floor at 80 bucks or so, that is the ideal range for producers, not for consumers with such inflation and after a global crisis.
I am opening positions from the previous daily top and adding in different stakes every 50 cents up and so far it is working good. The only problem is that if a reversal occurs then I won't be holding important positions yet.
With interest rate hikes the pressure over OPEC+ will be higher and they could be opening taps a bit further to prevent prices to go very high that may hurt demand.
STAY SAFE. Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
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