The next bigger move in oil is likely up
Actualizado
Oil has the attention of the top calling bears, but the way I see it, it won't make it easy to call the top, like it never does. Based on the structure I'm seeing, a move higher is more likely, and I expect it soon.
Comentarios
Looks to be breaking out on the 4hr chart now with an intraday H&S confirmed above key neckline. Consensus trade is down not up, that's why up is more likely.
Comentarios
4hr close on the ascending triangle confirmed + horizontal resistance broken. This is the first time all month it closed above its intra-month highs.Comentarios
Very important for me that oil holds today's lows. I have no interest in being part of the noise that could be inside the consolidation. I want this trade to work fast or I don't want to be in it. My concern with oil trading higher right now is gas futures - they don't look good to me.
Comentarios
Looks like it could be breaking out now.Operación cerrada: objetivo alcanzado
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