![]() We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. At DailyFX we typically take a contrarian view to crowd sentiment however, due to recent changes in long and short positioning we arrive at a short-term upside disposition.Ĭontact and followWarrenon Twitter: trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. IGCS shows retail traders are NET LONG on Crude Oil, with 58% of traders currently holding long positions (as of this writing). ![]() ![]() Today’s price movement should be relatively range bound prior to Fed Chair Jerome Powell’s address but could see some large swings depending on the testimony. The WTI daily chart reflects a similar move breaking out of the symmetrical triangle formation (black) now trading above the 80.00 level. This could point to short-term upside followed by medium-term weakness as the Relative Strength Index (RSI) looks to push higher towards overbought territory. ![]() Price action on the daily Brent crude chart has surpassed the 85.00 psychological handle but remains withing the bear flag chart pattern (green). ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |