/biz/ - Business & Finance

>>14859741
>USOIL on 18JUL2019 @ 2100UTC

I hesitate to give long term predictions because i'm not really experienced in traditional assets (although i'm learning), and traditionally these aseets are subject to all the world influences, that means:
>politics
>economy
>unrest/war
>the broader market sentiment
>tech or energy advances/declines
>climate change sentiment
>and so on

I've marked the date you've given of 18th Oct 2019 with a vertical white line. Not that it means much but gives you a sense of scale of how many 'candles you have left remaining'.

1. I just wanted to make note of how price reacted away from the 1MONTH LOWER 1.25, so I went down the time frames to see how price was reacting. It became apparent that the reason for the price to be keep above the mean on the MONTHLY time frame was clear on the DAILY and 4HOURLY time frames. If you note (i've drawn a blue line to illustrate) that price CONSISTENTLY closed above the LOWER 2.2 benchmarks on these time frames, the price FAILED to convincingly close below the LOWER 2.2 benchmarks, on the WEEKLY chart, price was literally hugging as tight as it could to the LOWER 2.2, even though it was still bearish, you could almost be sure that EVEN FURTHER bearish sentiment wasn't there. I don't know anything about USOIL apart from the basic knowledge I have and when I opened the chart, but I could have successfully made a profitable trade either long/short using common sense, I probably would have waited for price to revert to the MONTHLY MEAN, see if it held levels, and then bought the MEAN REVERSION back from 1-2 as noted on the chart, then assess once price got closer to the areas I'd had my eye on, this is ofc in HINDSIGHT, but the INFORMATION was all there, if you're uncertain go back and go from HIGHEST to LOWEST time frame and find out the 'inbetween' data