RE:Days like this got to love investing on TACobalt
I see we're in oversold territory (hard on the 4h and bearish divergence on the 1h) and I fear I missed my exit today... I suspect tomorrow I'll have a decent shot. I usually know better and get out before earnings. Got lazy and also a bit aggressive in hoping that the
RSI moves to the max 80 range...still might happen where we shoot up a bit more. I see WTI almost hit my $91 target ($90.36) the other day and basically got rejected right at the upper trendline. The $USD is making a comeback from its little sell off.
Once that daily on the MACD rolls I see this dropping hard. Hopefully not right at tomorrow's open. S&P500 and Nasdaq resuming bear downtrend. And Bank of England warns of biggest recession ever around the corner.
I would be surprised if oil broke to the upside but it very well might between now and the end of the year who knows. But I think once that recession gloom and doom is everywhere oil will take a bath and I do not see energy stocks holding their own (they are risk assets and will respond accordingly).
Next week we could be surprised and really get oversold. Not sure I plan to hold over the weekend tho to find out on Monday.
Cobalt wrote: Cant give a cr*p about the fundamentals you all cant figure out ;) It is all in the charts