Crude: Oversold on high Volume
Really nice for LT investors... I was hoping that such a selloff would happen after Algier Meeting some time ago. We have oversold RSI and Stochastic and a high volume . I guess commercials net short % positioning from Tuesday will be in the rand of 17-18 % (we see it Saturday) and next week back to 14-16%. I currently hope for a correction till 42-43 Support Region till Tuesday. Than we should expect quite a strong rebound...
Commento:
Crazy Situation on Friday Europe close... SA threatening to increase production... SA denying to increase production... SA threatening again... 1 $ in 10 min increase of WTI on deny of increase. Just imagine what will happen if we get a production cut. Dangerous situation for shorts.
