The fate of Oil lies in your hand !
تم تحديثه
Actually, millions of hand, really.
As you can see from the chart, price of Oil has dropped drastically to the range of 30 dollars and heading to 26 dollars where we find some support during those period indicated on the chart.
Could we see a rebound from here and bring some cheers to the Oil bulls ?
Or are we going to dip even further to the next support level at the range of 10 dollars and please the Oil bears further ?
Perhaps, if millions of hands start punching on the buy button, maybe we could see a rebound?
Or
More panic sets in, more lose hope in Oil price or cannot be bothered , more bad news about Oil hit the media , the algo traders are not done with their selling ,etc , then we could see it hit further south.
Thus far, i have managed to make some small profits from intraday trading on 15 mins and 1 hour chart basis and taking very quick profits and in a way, testing the market. I did not post this charts as I know it is an unusual time now and judging from the comments and Pms I got, I know how many are feeling. I rather take the risks myself than to share with you guys unless the trend is super clear, which is not at this moment.
Stay healthy, positive and remain calm especially this period. Remember, making money is important but there are more important things than making money as well. Look after your family, children, job on hand , friends, etc. This trying time requires us to adjust and adapt, so do not over trade to stress yourself out. Play small if you want to and watch your portfolio closely.
As you can see from the chart, price of Oil has dropped drastically to the range of 30 dollars and heading to 26 dollars where we find some support during those period indicated on the chart.
Could we see a rebound from here and bring some cheers to the Oil bulls ?
Or are we going to dip even further to the next support level at the range of 10 dollars and please the Oil bears further ?
Perhaps, if millions of hands start punching on the buy button, maybe we could see a rebound?
Or
More panic sets in, more lose hope in Oil price or cannot be bothered , more bad news about Oil hit the media , the algo traders are not done with their selling ,etc , then we could see it hit further south.
Thus far, i have managed to make some small profits from intraday trading on 15 mins and 1 hour chart basis and taking very quick profits and in a way, testing the market. I did not post this charts as I know it is an unusual time now and judging from the comments and Pms I got, I know how many are feeling. I rather take the risks myself than to share with you guys unless the trend is super clear, which is not at this moment.
Stay healthy, positive and remain calm especially this period. Remember, making money is important but there are more important things than making money as well. Look after your family, children, job on hand , friends, etc. This trying time requires us to adjust and adapt, so do not over trade to stress yourself out. Play small if you want to and watch your portfolio closely.
ملاحظة
Go check out my chart on DJI and Oil relationship :
Thus far, they have been moving in tandem. So, if this theory proves right, unless Oil recovers, we can expect more selldown in DJI and the other indices.
Any thoughts ?
إخلاء المسؤولية
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