Here we are tracking a breakdown in Oil via the supply and demand side.
On the fundamentals, same story we have been tracking all year.... narrowing backwardations and POTUS in full protectionist mode.
For the technicals the lows set two weeks ago at 50.51 are vulnerable and open to be swept. I expect NY to set things straight here and trigger the momentum flow that will last till September Fed.
A MKT entry with stops safely kept above 56; anything higher will cause me to move to the sidelines once more. Whilst to the downside targets are very clear, initially found at 50.84 with an extension as low as 49.28 if we get the impulsive momentum trigger.
Best of luck all those trading Oil.
On the fundamentals, same story we have been tracking all year.... narrowing backwardations and POTUS in full protectionist mode.
For the technicals the lows set two weeks ago at 50.51 are vulnerable and open to be swept. I expect NY to set things straight here and trigger the momentum flow that will last till September Fed.
A MKT entry with stops safely kept above 56; anything higher will cause me to move to the sidelines once more. Whilst to the downside targets are very clear, initially found at 50.84 with an extension as low as 49.28 if we get the impulsive momentum trigger.
Best of luck all those trading Oil.
코멘트:
A quick update here with Iran confirmed ..
코멘트:
...and we are breaking down
코멘트:
A good time for a chart update here;
코멘트:
No break for the open... NY next
코멘트:
Aggressively selling 54.2
코멘트:
Eyes on NY offering the open
코멘트:
Losing the roll will unlock the flow right now
거래청산: 스탑 닿음:
Damn... a complex retrace with a tweet was enough to sweep our stops
