Touched 0.618 fib (+200-daily moving average) and it is very much overextended in bb(20,2) perspective. Economic fundamentals are improving (tough slowly) around the world (especially in the China, look e.g. the pmi). I think that the oil has overreacted.
Falling dollar (+t.bonds) is telling me truth. Crude will move to the opposite direction (i.e. upwards).
Falling dollar (+t.bonds) is telling me truth. Crude will move to the opposite direction (i.e. upwards).
Note
Weekly BB(20,2) touch could be possible before bouncing.Note
Non-commercial net position sentiment changing aggressively in dollar... Supports OILTrade closed manually
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.