OIL - Trapped bears' short squeeze is coming above 34.52
I just noticed how similar is the present situation in oil to the 04.06.2015 situation...
We have a beartrap : a lot of people shorted oil in the breakdown on 02.11.2016... I want to see their short squeeze tomorrow or Monday when we break above 34.52...
That short squeeze will push price to the 100 EMA and to the 200 EMA. I think this daily cycle will top at the 200 EMA (40-42)
Watch how similar the divergence between the price and the MACD/RSi (blue line) today and in 2015 March-April...
In 2015 October when price was falling we didn't have this divergencies... (Red line)
Today we closed above the 50EMA despite the weak oil inventory data.
I still see a lot of people posting short possibilities here.
I think it's a suicide plan to short oil here. We are at the end of the intermediate cycle...
A junior bull is born during these days...
We have a beartrap : a lot of people shorted oil in the breakdown on 02.11.2016... I want to see their short squeeze tomorrow or Monday when we break above 34.52...
That short squeeze will push price to the 100 EMA and to the 200 EMA. I think this daily cycle will top at the 200 EMA (40-42)
Watch how similar the divergence between the price and the MACD/RSi (blue line) today and in 2015 March-April...
In 2015 October when price was falling we didn't have this divergencies... (Red line)
Today we closed above the 50EMA despite the weak oil inventory data.
I still see a lot of people posting short possibilities here.
I think it's a suicide plan to short oil here. We are at the end of the intermediate cycle...
A junior bull is born during these days...