I present approach of triangle formation, so I assume LONG now. Let's see how it goes....
There is a lot of oil in inventories as well as lower demand. It must go down
If there happens to be a pull back, I will add SHORT positions somewhere at 1326-1330$
If pull back happens, I will buy at 62.70$
Next week it seems GOLD will go up. US stocks growth so there should be some weakness in USD.
I will try to add more positions at 62$. Candlesticks created 'tweezer top'. That's a nice signal for reversal. Let's see how it will end...
Long for Oil but I will try to enter more at some correction around 59.70$
I will try to open short contract at 64.60$ with Stop Loss 65.80$. Let us see...
One more attempt to go short with GOLD. There is nice divergance on Stoch. However, it must break one more support line. My Stop loss is at 1355$
I assume SHORT trade for oil now. Bigger SHORT trade for oil should be accompanied by correction on US stock market.
Trend could go down but it must overcome second trend line. Let us see how it will ends.
I will go SHORT. NOTE!!! There is no sign of reverse on GOLD so do not risk so much.
This is my idea for SHORT which I took with half size of total positions. I will open rest later if I do not see trend going up.