(ref:
TopProducers(Millionbarrels/day)
(1)SaudiArabia10.7
(2)Russia 9.7
(3)US 8.4
(4)Iran 4.1
(5)China ...[
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(1)Don'tfightagainstthetrend.Thetrendisdown,Soonlyshort,nolong
(2)Thetradeforshortistosellcallspread,slightly($2-3)inthemoney,$10apartand$5invalue.thismakesrisk/reward1:1andalso$2-$3upsideprotection.
(3)Use1/3-1/2toinitiatethefirsttransaction.Ifthetransactionisnotcorrectafterthat,continuetofindhigherpricetoshortatleastonce.Ifgoesthecorrectdirection,addmoregradually.
(4)Closetheposition...[
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SPYhits38.2%targetandmovesdown.actuallyonthispricethereare3indicators:(1)resistance(100)(2)StochasticOverbought(3)Fibminimumtarget38.2%
.
Everytimewhenthemarketisaroundthecriticalpoint,watchcarefullyforthesignsfordirection.Therearemorethan50%chancetogotheotherway,sowatchisveryimportant.
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(1)PrimaryBearTrend
(2)SecondaryTrendrightnow.
(3)SecondaryTrendHeightmeasurement
Fib38.2%=100.51
Fib50%=105.76
Fib61.8%=111
(4)SecondaryTrendTimemeasurement
Atleast3weeks,twomoreweekstogo.
(5)15EMAisgoingdown0.7/day,currently110,ittakes7daystogodownto105
(6)Stronggapresistenceon107.
Conclusion:WhenSPYreaches105in7days,thereare3resistances:(1)...[
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Whenmorethanonetechnicalstogetherpointstoapricelevel,thatpricelevelaremorelikelytobecomethesupportorresistence.
(1)50SMAor15EMA
(2)PreviouslyResistence/SupportLine
(3)FigretracementLine
(4)TrendLine.
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ChartSetting:50SMA+15EMAaccordingtoBarry.2MA'sareenoughandnoneedtoaddmoretobeconfused.Switchthetimeintervaltoseedifferentpictureswiththesameaverages.
(1)PrimaryTrend:Thisis50SMAonWeeklyChart.
15EMAabove50SMAmeansBULL,otherwiseBEAR.MAcrossingmeansthetrendchange.thetracementof15EMAshouldnotcross50SMAtokeepthetrend.Beextremelycautiouswhenitcrosses.Barmaytouchorevencrossthe50SMAline,however15E...[
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