Significance of THE BZONE
Now, what am I referred to when we talk these BATTLE ZONES, or BZONES?
A BZone is an area of a key levels, visited over and over again and not allowing price to resolve, one way or the other!
I am seeing 53.75 and 52 as a confinement of price. CONFINING price represents battle lines drawn by both sides:
1. BIDDERS take it higher on bounces from 52 and 52.50.
2. SELLERS take it lower once 53.75 is rounded or reversed. 54 flat is the top of our current long MM play, from 50.71 to 54.08.
THE KEY LEVEL HOLDING UP PRICE IS THEREFORE 52 flat and then price seeks 50 bucks once again.
WE KNOW that the key oil players WANT 50 bucks plus from watching price react there. There is significant debate where the SAUDS are profitable>>>IS IT 50 flat to continue to pay off their many residents on the dole on oil money and reserves accumulated over the many years that they jaw-boned prices into the 140 level?
WE SHALL SEE as I am seeing 52.75 resolve now.
DJ
A BZone is an area of a key levels, visited over and over again and not allowing price to resolve, one way or the other!
I am seeing 53.75 and 52 as a confinement of price. CONFINING price represents battle lines drawn by both sides:
1. BIDDERS take it higher on bounces from 52 and 52.50.
2. SELLERS take it lower once 53.75 is rounded or reversed. 54 flat is the top of our current long MM play, from 50.71 to 54.08.
THE KEY LEVEL HOLDING UP PRICE IS THEREFORE 52 flat and then price seeks 50 bucks once again.
WE KNOW that the key oil players WANT 50 bucks plus from watching price react there. There is significant debate where the SAUDS are profitable>>>IS IT 50 flat to continue to pay off their many residents on the dole on oil money and reserves accumulated over the many years that they jaw-boned prices into the 140 level?
WE SHALL SEE as I am seeing 52.75 resolve now.
DJ
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