Short WTI - Head and Shoulders Confirmation & now 2nd Chance
I think WTI has formed a Head & Shoulders Pattern which if I have read correctly is one of the strongest Technical Indicators.....
This should lead to Oil falling to at least 28 and maybe even 26 again....
Iran not agreeing to cut with OPEC is perfect timing to push it up enough so it hits the neckline as you can clearly see happened today.....
It's all algo trading anyways so I don't even think the Iran & Opec situation really matters and could possibly be just coincidental
Zero hedge shows March Contracts are the primary reason for todays gains with significant interest at Strikes of 31, 30 and 28.... which amazingly enough line up with this chart....
All the above I saw myself late January as the 2nd shoulder was forming and then a day or so later came across this video which confirmed what I was thinking
youtube.com/watch?v=uzef43gdupk
This should lead to Oil falling to at least 28 and maybe even 26 again....
Iran not agreeing to cut with OPEC is perfect timing to push it up enough so it hits the neckline as you can clearly see happened today.....
It's all algo trading anyways so I don't even think the Iran & Opec situation really matters and could possibly be just coincidental
Zero hedge shows March Contracts are the primary reason for todays gains with significant interest at Strikes of 31, 30 and 28.... which amazingly enough line up with this chart....
All the above I saw myself late January as the 2nd shoulder was forming and then a day or so later came across this video which confirmed what I was thinking
youtube.com/watch?v=uzef43gdupk
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