OIL - The next big thing. Again.

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Prepare your dry powder because we will be buying oil soon.
Just like in 2016:
OIL - THE NEXT BIG THING


OIL - Trapped bears' short squeeze is coming above 34.52


These were great times. I think this will be repeated soon.

Stay tuned.

Uwaga
Tha May contract is dead. It’s below 15$ -20% drop today.
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Uwaga
The spread between CLK and CLM IS 9$. The CLM needs to be discounted before I buy.
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Uwaga
CLK is expiring today.
Uwaga
Buying CLM today? I think it's too early.
I want to buy between 15 -20 $
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Uwaga
Buying CLM (June contract) is suicide when CLK (May contract) is running out and there is a price difference of 9$.
Price will definetely be some kind of drop in the CLM before it bounces:
1. Smartmoney will not buy the June contract 9$ higher.
2. Hedge funds are playing for the gap close: they are probably shorting the CLM.
3. Retail - most of them is destroyed at 20-25$. The rest who is rolling over will have 40% less money to invest as the price between CLK and CLM is 9$.
Uwaga
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This chart is showing the May contract. Don’t get too excited you can’t buy oil at 8$. Or if you buy it will be closed tommorrow when contract expires. Noone can tell you if price is 4, 6 or 10& at that time...
Uwaga
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Uwaga
We need to wait while the dust settles down
We want to see what happens to the June contract
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Uwaga
Say hi to 0.
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There are no buyers.
Uwaga
OK. So right now the the CLM ( June contract) is doing what we are waiting for. It broke the previous low.
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Retail traders who didn’t sell CLK now went to zero. So they can’t buy the CLM. Hedge funds And smart money are waiting for A lower price.
Uwaga
Wow. CLK went to negative.
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Uwaga
June contract is selling off too.
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Uwaga
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14$
Uwaga
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The trendline is broken I will try to buy the tre trendline backtest...
Uwaga
Or the tag of the 10 MA:
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Uwaga
Still not decided if the june or july contract...
OiloiltradingTrend Analysis

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