Tecnical analyst ( new Member)

[Paul Paul 0]

Hello community, I am new to the forum and would like to share my view of WTI future contract . 🙂

- We are currently monitoring H4 chart showing us Cup and Handle breakout as expected. (chart N.1) 
- Volume and trend favor the bull admit this week massive unexpected draw along with Iran and ATH indices.
- Next positional TP for bull is 63.22 - 63.74  ( 0.786 & 0.618 fib) 
- Triangle was formed on top of bull pole holding 0.236 fib (from 60.92 to 59.92) ; Breakout zone is 60.53 which will allow us to go to 63.22 -63.74 (chart N2)
- Stop loss is set at yesterday low point of head-fake 59.90
- Energy equity also showing us bullish divergence with indices surge. ( I can smell the short squeeze on this sector very soon since they remain pressurize to the downside on very low volume)

In brief, long 60.2 with SL 59.9 . TP 63.5 
For new long buy is 60.55 breakout same TP as above . 

Good Luck, 
PaulPaul®


P.S : will post more on my blog page as we evolve into the future . 

[oilexpert.nl + 36]

If you follow Elliott-wave, we see top declining, bottom rising graph, indeed you should go long. 

[oilexpert.nl + 36]

However in a market like this, you will earn more on going short the coming days. Every single piece of new info regarding Iran will create new top and bottoms. The graph, to my opinion, is more information tracking, than people getting caught on their shorts/long positions. I believe in hectic markets like these ask yourselves. What would I do with an unsold tanker of oil, store or sell on the way? Think most of us would now sell 80% on todays numbers.