WTI: just some considerations (M)
Updated
Hi Guys,
yesterday I shared some personal considerations on the daily chart, representing what's inside the blue box (2020).
1) Following the move from X to A that occurred in 2020 due to what's detailed in the daily view, WTI pulled back above $40, right were it was when OPEC+ collapsed and WHO declared pandemic emergency status;
2) Unless unexpected circumstances emerge again, I'd expect price to hold above the $32.(700) and continue the pullback towards the descending bearish monthly trendline. To note that OPEC said last Thursday that "The Worst is Over" for the oil market (zerohedge.com/energy/crude-futures-spike-opec-comments-worst-over-oil-market)
3) As long as price remains below the SMA(34) outlook remains bearish for me even if attacks are not to be excluded. Of course it will depend from what level an attack could commence;
4) To the naked eyes price(40.546) is far away from the SMA(34)(53.889) compared to the distance between RSI(44.86) and it's median(50).
5) Finally here below a snapshot of the 4H chart:
Thank you for your support and for sharing your ideas.
Cozzamara
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumstances.
yesterday I shared some personal considerations on the daily chart, representing what's inside the blue box (2020).
1) Following the move from X to A that occurred in 2020 due to what's detailed in the daily view, WTI pulled back above $40, right were it was when OPEC+ collapsed and WHO declared pandemic emergency status;
2) Unless unexpected circumstances emerge again, I'd expect price to hold above the $32.(700) and continue the pullback towards the descending bearish monthly trendline. To note that OPEC said last Thursday that "The Worst is Over" for the oil market (zerohedge.com/energy/crude-futures-spike-opec-comments-worst-over-oil-market)
3) As long as price remains below the SMA(34) outlook remains bearish for me even if attacks are not to be excluded. Of course it will depend from what level an attack could commence;
4) To the naked eyes price(40.546) is far away from the SMA(34)(53.889) compared to the distance between RSI(44.86) and it's median(50).
5) Finally here below a snapshot of the 4H chart:
Thank you for your support and for sharing your ideas.
Cozzamara
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumstances.
Note
With reference to point 2) 
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