$Oil rejected the yellow trend line again, down 2.3% overnight. Support sitting at $78.50.
Getting pushback lately from people saying TA is useless and $Oil is heading way higher. Most of them are long and underwater.
Here's the reality: fundamentals matter long-term. But short-term? News spikes and dips, and TA gives you the edge in between.
Last 6 months? Technical traders crushed it on oil. Meanwhile fundamental guys kept calling for $150-$200 oil and screaming about supply shortages. The Strait of Hormuz panic? Overblown.
I'll keep shorting spikes and buying dips. It works.
Right now, no setup. If price drops to $75, I'm looking at a long. Above $90, I'm eyeing a short. In the middle? No trade, no touch.
#WTI #trading
Getting pushback lately from people saying TA is useless and $Oil is heading way higher. Most of them are long and underwater.
Here's the reality: fundamentals matter long-term. But short-term? News spikes and dips, and TA gives you the edge in between.
Last 6 months? Technical traders crushed it on oil. Meanwhile fundamental guys kept calling for $150-$200 oil and screaming about supply shortages. The Strait of Hormuz panic? Overblown.
I'll keep shorting spikes and buying dips. It works.
Right now, no setup. If price drops to $75, I'm looking at a long. Above $90, I'm eyeing a short. In the middle? No trade, no touch.
#WTI #trading
