, 19 tweets, 15 min read Read on Twitter
#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
#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
#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
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
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