CL - Crude Oil probably prepping for a dive
Updated
The real last high was on 2015/08/31 - with a very low close, basically a give-up.
From 2016/01/08 price started to stair-step in big swings.
The prior high, from where buyers gave up, was the exact point where they once again ran out of power, failing to break north and go higher.
OPEC brought news in the last days - they would even lower prices much more to support Crude prices...
My thinking goes like this: It's not a organisation who makes the market - It's the market, humans who tell what they are willing to pay. And if the crowd is not willing to pay more for crude, then nobody in the world can stop price from going lower and lower.
It's just my simple thinking and in the years I walk on our bowl, the rules of live worked out very well. If not, it was me who did not follow it...
Back to the chart.
The past weeks produced a coil - energy is loading up.
IMO it will explode to the south - but who knows - maybe something will happen and then people are willing to pay more and my thoughts are history. Yes, no crystal bowl, just putting together the puzzles and hope the picture is what it's showing.
As for now, I see price will reach the centerline - either the white or even the blue one. But first there shall be a break of the support (blue line). Then I hope for price to come back to pick me up for the ride. But this is probably wishful thinking here, because of the loading on energy which could expand very explosive.
Hunt mode on...
P!
From 2016/01/08 price started to stair-step in big swings.
The prior high, from where buyers gave up, was the exact point where they once again ran out of power, failing to break north and go higher.
OPEC brought news in the last days - they would even lower prices much more to support Crude prices...
My thinking goes like this: It's not a organisation who makes the market - It's the market, humans who tell what they are willing to pay. And if the crowd is not willing to pay more for crude, then nobody in the world can stop price from going lower and lower.
It's just my simple thinking and in the years I walk on our bowl, the rules of live worked out very well. If not, it was me who did not follow it...
Back to the chart.
The past weeks produced a coil - energy is loading up.
IMO it will explode to the south - but who knows - maybe something will happen and then people are willing to pay more and my thoughts are history. Yes, no crystal bowl, just putting together the puzzles and hope the picture is what it's showing.
As for now, I see price will reach the centerline - either the white or even the blue one. But first there shall be a break of the support (blue line). Then I hope for price to come back to pick me up for the ride. But this is probably wishful thinking here, because of the loading on energy which could expand very explosive.
Hunt mode on...
P!
Note
The low close on the daily yesterday makes me confident to hold on to this short.
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