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Oilshort!

Release the BEARS on $USOIL and $SPY: The question is WHEN?$USOIL and $SPY have the same bearish looks with the notion that this top out cannot last. Oil has stagnated already (slightly upward tick but overall very "sideways"), while the S&P closed with a strong rally--and with what nearly looks like a GAP... The reversal may not happen Monday, but this trader projects it to happen by late next week or early in the following trading week, after Christmas even. Please See the related notion of an ending bull cycle (or period, if "cycle" is too loaded a word for some)... This is something of redundancy but for a deeper look it seemed useful to parallel OIL w/ the S&P; they will tank in simultaneous fashions. --BDR
FX:USOILShort
by BDRTrigger33
3
$USOIL bull run stalled mid 41/b: Upside is a new SUPPORT point.It seems the run $USOIL went on during the first half of Monday's session met its resistance, as written, around the 41.5-41.65 mark. It is below that right now, and it might not even test that point today. Watch for the dip below 41. It is this trader's OPINION (IDEA) that $USOIL has strong support at the 40/barrel mark, which it has not for the last many months...the post-COVID high remains roughly 43, and until that is surpassed, all pump fakes might just be that... IN CONCLUSION! -- There is a short here to be made, but not a substantial one in terms of oil-related positions. Weakening some positions might make sense--but with the 95% effective COVID vaccine hailed by MODERNA, things are still seeming - overall - quite bullish. It's just that $USOIL is going to need an even bigger shove to go 45-plus as we have continually pined for. The economy is getting stronger, but it is still on a ventilator. As it is. -BDR Note: See yesterday's idea RE: the resistance point mid-41.
FX:USOILShort
by BDRTrigger33
5
OIL - Our strategy of mixing BUY and SELL positionsOur technical analysis on Oil with the major key price levels. Fundamentally and technically we see a drop, sooner or later, below 30 usd At this stage there is a 60% drop, or a 40% rise to 42.50 resistance and a possible drop from there at 90% (10% only to break that level) HOW WE TRADE THIS: We have SELL and BUY positions at a rate of 7 (buy) to 3 (sell) (70%-30%) If the price drops then we have a profit from 40% of the positions If the price rises we will close all BUY positions at the major resistance of 42.5usd and hold our SELL positions for a drop back to where the price is now and the key take profit levels of 36.60, 34.60 , 31.70 and even the all time support of 30$ and 28.50$. If all goes well we will consider Buying again at that level. Take a look at how we perfectly sold in September s idea predicitng perfectly the beginning of the drop, our tutorial on Oil analysis
FX:USOIL
by FX_Professor
1
Repeated hammer for WTI OILCrude oil has been taking a beating the last few weeks. Lockdown crawling over Europe as Covid cases are increasing. Demand for Oil dropping. London into lockdown starting next week, low demand for oil still, lower prices expected. We are noting a steady decline in oil, still hunting for the previous low target of 32.8 could be rocky with elections just round the corner so expected a volatile market for a couple of weeks. Bias Oil Short Read between the lines. Let the maths do the work for you. Observation is a key, patience is a virtue.
FX_IDC:USDWTIShort
by UnknownUnicorn705200