Crude Oil

maxinger said:
Down it goes decisively when the market opens this week.
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And OPEC has the ability to send it lower if they stopped their production cuts. Not that they would do that.... I'm just saying it's artificially high as it is. They could flood the market any time they choose.
 
nice reversal up signal yesterday.

yesterday range was 350 ticks.
today range should be < 350 ticks but it should be good too.
 
I would only sell if my CCI would fall below the zero line. Remember that there are big sharks looming around to take big money in oil trading, so we got to be extra careful. I believe more in taking home my profit at the end of the day when the markets close, don’t keep my positions open for long. And buy only when the crude oil chart on the RSI shows a reading of the dropped oversold phase. This after a very long overbought reading. CCI of course has to be way above the zero line.
I have been playing on the safer front so far with lesser margin, planning to go all out with my additional account on Schwab. And maybe toy around with gold. Studied extensively on its hedging benefit, so let’s see.
 
lately, crude oil has been very trendy;
3 days of long red candles

and cnbc headline is ?!?!?
Oil prices rise on Middle East tensions; crude stock build caps gains
PUBLISHED WED, AUG 4 202111:30 PM EDT
 
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