Oilusd
Crude Oil (WTI), long from correction to 63.81.A volumetric analysis based on the X-volume indicator indicates active purchases at lower prices and an inefficient distribution at a low volume. Therefore, the growth to the resistance level of 63.81 is most likely. Levels by X-Lines indicator. Both indicators you can find in my list of scripts.
Good Ol Black GoldBased upon data and the continued negative sentiment regarding oil supplies.
I believe USO will continue degradation.
The first short target is 11.02 and the second is 10.46.
March Puts at 12.00 are in play.
I expect a bounce at .686 Fib and then continued downtrend until capitulation of oil rigs in the fall. I expect crude to succumb to pressure until 55bbl is reached. The Oil Rally is over.
And what about Crude Oil?Less and less attention to oil of late. Also, it's a summer time and this also affects the demand.
The Market showed us good price level to open positions, so we have a good route to use them all.
- Sell from now for few hours
- Sell from resistance lines for 15 min
- Sell till the end of the day
- Sell till the end of the week