RE:Crude TechnicalsUnderTheRadar wrote: Keep calm, everyone...these are not my technicals and we should all trade with caution...
I think it's possible that this may have been an overzealous market reaction since we're still in lockdown phase, borders remain closed and vaccine outcomes are still in progress...
I've been looking for info to signal next breakout points and there seems to be very mixed sentiment...some technical oil traders think there could be a divergence forming.
One near term target is $47.50/WTI and according to another technical trader, he's looking at the following:
$46.34: point of release
$48.60-49.24: clean breaking point
$52.82: point of release
(price should stumble at one of these levels)
Some speculation is that there's optimism also surrounding the impending OPEC meeting.
Once again, trade with caution, bull-fever is contagious, maybe more so than covid.
Current trade regulation: max 2 drink per day quota: that includes you, Moe
Know your limit. Stay within it.
Good post.
I see more lockdowns....especially in Canada and especially with the Turd opening his yap.....
https://www.bnnbloomberg.ca/canada-may-have-to-wait-for-vaccines-without-domestic-production-pm-1.1527195