May is the month where OPEC and Russia meet once again to discuss an extension of the supply cuts. This creates a bull euphoria in the market, which combined with the technical indicators can make oil rocket to a (minimum) price of $55 (previous DCH). The 10DMA started curving upwards, whereas the RSI has a lot of room to move to the upside. Furthermore, volume started increasing today, which is a good sign of a trend building.
Kommentera:
$52 Incoming
Kommentera:
Very unepexpected. This is quite dangerous, keep your stops tight.
Kommentera:
It bounced off a major trendline. This could be a butterfly on the 1H, but still need confirmation by breaking the 10DMA on 4H.
Kommentera:
Kommentera:
Bulls giving it their everything. I am doubling down on my position.
Kommentera:
Trade stängt manuellt