GazFx
Corporal
- Messages
- 95
OPEC cuts production. Oil prices respond. Is it time to buy?
Starting with the weekly chart, there is a cross-up in MACD, a cross-down in PPR (Purchasing Power Ratio), and Twin MA's look set to cross-up this week. This sets the scene for a new longer-term uptrend formation. If it eventuates, and there is every reason to believe this will be the case, then this is an opportunity for substantial gains over coming weeks.
The daily price chart below supports the uptrend argument. Twin MA's have crossed-up, PPR has crossed-down, and MACD has crossed-up...a classic buy signal. There is also a price break above resistance, and price is now above the previous high.
A volume spike accompanies the price breakout shown in the H4 price chart, my strategy trading timeframe. Note also the most recent cross-up in MACD that coincides with the breakout, which prompted my buy entry and GazFx Telegram signal to subscribers. Paid subscriptions are US$10.00 per month via PayPal, first month free. See link in my profile. They include entry, modify, and close-out signals.
Starting with the weekly chart, there is a cross-up in MACD, a cross-down in PPR (Purchasing Power Ratio), and Twin MA's look set to cross-up this week. This sets the scene for a new longer-term uptrend formation. If it eventuates, and there is every reason to believe this will be the case, then this is an opportunity for substantial gains over coming weeks.
The daily price chart below supports the uptrend argument. Twin MA's have crossed-up, PPR has crossed-down, and MACD has crossed-up...a classic buy signal. There is also a price break above resistance, and price is now above the previous high.
A volume spike accompanies the price breakout shown in the H4 price chart, my strategy trading timeframe. Note also the most recent cross-up in MACD that coincides with the breakout, which prompted my buy entry and GazFx Telegram signal to subscribers. Paid subscriptions are US$10.00 per month via PayPal, first month free. See link in my profile. They include entry, modify, and close-out signals.
