My holidays are over and it was nice to see that things that I writing about are mainly playing out as expected. One of them is also oil. To me it seems it can go a lot higher! There are so many bears because of an over rated shale potential or because so many people think that demand just can’t pick up. I disagree with their arguments, not only that I take the opposite side! Also, there are bulls but who are not really bullish, rather neutral, as they think oil can’t go much higher.
I wrote a lot about my bullish thesis so many times in the last couple of months. In the first one I was writing about my $60 expectations in WTI price and in the second one I wrote an update on the 1st one. I really wouldn’t like to repeat myself , so you are very kindly invited to give them a read. Nadaljuj z branjem “WTI crude oil to $59 and possibly to 68?”
I am enjoying my time on holidays now and I wasn’t planning to post much in the next two weeks. But the trading idea I will present in this post very briefly is one of the things that just can’t go unnoticed.
Currency pair CADCHF is one of the products that respected technicals so beautifully it’s hard to describe it with words so please take a look at the next chart. Nadaljuj z branjem “Can technicals get any better than this?”
We are in a strong equity bull market and the stronger the market gets, the more angry the bears become. I can’t tell you how many times I’ve seen Demark sequential indicator posted by the bears who tried calling the top over the last year or two. It’s just silly.
Everytime the market makes new all time highs the top pickers come out of the caves and literally start throwing money away. Sure, one of the future all time highs will become the top, but do you have enough money to survive untill we get there?
Maybe my post is marking the top, maybe not, time will tell. No one knows, not me nor you. But I would say, based on all the evidence, we still have quite some upside left. There are more and more markets participating in this bullish trend, which is a sign of strength, not weakness. Nadaljuj z branjem “Do yourself a favor and do not fight it!”