Thread by @CozzamaraDaZena

#WTI price action towards $58,25 following #OPEC+ meeting #OOTT

#OPEC #OOTT #WTI price went up 5 minutes after scheduled meeting at 13:00 before moving towards $58,25 with a 5 moves down.

If we consider #OPEC posture, $58,75 should have provided support imho. But it didn't. The fall retraced 0.618 Fibo

#OPEC #OOTT important to understand price action at $58 in order to determine if a short squeeze is likely to unfold in the short term or more time

https://twitter.com/CozzamaraDaZena/status/1145966365523742720

#OOTT #OPEC #WTI price pushing down on 58,25...watch RSI

#OPEC #WTI #OOTT 3m chart going into RSI oversold may provide another negative impulse imho

#OOTT #OPEC #WTI 1minute maybe pulling back

If it breaks below $58,25 it may run down quickly imho #OPEC #OOTT #WTI

#OOTT #OPEC #WTI the short squeeze may be happening

https://twitter.com/CozzamaraDaZena/status/1145970954583101440

#WTI must keep pushing down to cross $58 without losing momentum. If it loses momentum at this level the probabilities for a pullback will kick into play again #OPEC #OOTT

With 57 minutes to go before the last candlestick closes (1 hour), price may be losing momentum. RSI must go oversold for a red candlestick to attack the blue SMA or lower side of TR channel down imho #OOTT #OPEC #WTI

#OOTT #OPEC the push down inside the TR channel down 5minute Tframe with building up of momentum

#WTI #OOTT #OPEC and this is how the run down started for a short squeeze into V-shaped recovery

https://twitter.com/CozzamaraDaZena/status/1145970954583101440

very nice push tx #WTI

Following previous tweets to note how #WTI has been pushed down since last Friday into #OPEC /OPEC+ meetings

#WTI focus on previous snapshot and the amplitude of the moves

#WTI the dive from $58,75 to $57 following #OPEC+ in the 5min Tframe #OOTT
175 ticks with 1CL if entered since the beginning at 2nd test

please unroll @threadreaderapp

#USOIL 5minute snapshot with some info following #OPEC meeting. 15hrs after this thread was started #OOTT

https://twitter.com/CozzamaraDaZena/status/1146050161338146816