OIL - Green light for shorts?
I have good news for trapped shorts. It seems to me that you will be able to ease the pain and close your positions in the following 5-7 days around 43$. We are on day 44 in the 2nd daily cycle. If we start to go down into the DCL this is the best time to do that or we don't have a 3rd daily cycle...
We still have the MACD and RSI divergencies.
We are crawling on the 10 EMA. Usually this forecasts of a breakdown of the 10 and 20 EMA. If that happens we will be heading immediately to the 50 EMA.
If that happens I think the DCL will be printed between the 50 & 200 EMA.
In an extreme case we might tag the 10 EMA also. I might open a very small short position in the Energy trade tomorrow at market open with a tight stop above 49.50$.
We still have the MACD and RSI divergencies.
We are crawling on the 10 EMA. Usually this forecasts of a breakdown of the 10 and 20 EMA. If that happens we will be heading immediately to the 50 EMA.
If that happens I think the DCL will be printed between the 50 & 200 EMA.
In an extreme case we might tag the 10 EMA also. I might open a very small short position in the Energy trade tomorrow at market open with a tight stop above 49.50$.