HO is setting up like Crude did a few days back.

NYMEX:HO1!   NY Harbor ULSD Futures
27 0
Here is the setup:

1 - Commercial Traders net position ranks 92% on a 18m basis - They have been buying heavily into this decline. Trend following Hedge Funds on the other hand score a very weak 21% so they are still extremely short even after this 30 cent wipeout. Once the technicals start turning, their algo's will be covering to lock in the sizeable gains on their shorts.

2 - Seasonality is very favorable for HO - Going back to 1979, HO sports a impressive winning % of 66% in the month of July.

3 - Crude has been rallying & turning trends neutral from down - HO followed suit today with the convincing move through the Down trend line that has been in force from the 1.63 range.

So we've stopped falling, and now a counter trend rally has begun.

How to trade it:

For trend reversals we like to see a test of the low, and then a higher low made - We can use that as our pivot point .

Wait until after the EIA report tomm so that you sidestep any bankster fleecing/stop running & then look to establish your long position.

A 50% FIB retrace of this sizeable decline gets us to 1.50 or 8.5 cents from here - A lot of room to run, even if a higher level bear market is still in play.

Good trading to all.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden