#OIL: Monthly trend active...daily trend is down
Updated
The daily down trend signal that triggered today indicates we might get a retracement in the existing monthly uptrend in WTICOUSD. Oil futures would be a great buy once the current fall slows down and reverses, so I'll keep my eyes wide open waiting for cues to go long into monthly support (see the green arc area).
Upside over the long term is huge, so, it is of paramount importance to rejoin this trend when safe.
Best of luck!
Cheers,
Ivan.
Upside over the long term is huge, so, it is of paramount importance to rejoin this trend when safe.
Best of luck!
Cheers,
Ivan.
Trade active
I'm long 
TPL and 
OXY as proxies here, looking to buy futures, but not yet in. The last down trend signal that fired is failing potentially, keeping an eye on it.Comment
Time to scoop some oil.
Comment
Off to a good start, the
PFE drug news help my bullish thesis here, reflation and reopening momentum building up.Comment
This signal is close to invalidation, lock downs re emerging in Europe poured some cold water on the trade, among other things (like talk of tapping the SPR and rising 
DXY).A short signal kicked in the daily, on Wednesday. If it hits the monthly stop level this trade is taken out. I'm still in my bull call spread long term, but will exit if that happens.
Trade closed: stop reached
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