Haven't posted here in a while but I maintain long bias rolling long each month. I expect much higher prices.
Pricing @ 58.23 . Great day today. Looking for higher prices. If we were to close below 55 I would consider reevaluating.
I may be shorting if we get close to 60 again. Depending how it looks. Looking a bit like distribution over the last few weeks...
I do see the decidedly megaphoned shape on the daily that may correspond to your analysis. However, I believe the longer term trend to be upwards and think we'll break out to the upside.
Thats true but Im thinking we will correct nicely if we fail to breach the 60 level again. Plus bulish momentum is fading on 4 hour and daily.
That's what makes a market. Differing opinions. Correction would be ok though and then a rebut if timed properly.