Oil is in the middle of medium term Elliott wave 4 corrective range (flat) pattern. As the wave (a) unfolded in to 3 (abc) pattern it have high probability to be the ranged 3-3-5 pattern with a possible break out up side in the last wave (c) to reach at least Fibonacci retracement level 38.2%. As the previous time periods and Fibonacci time extensions match in...
I suggest potential USOIL Long chances considering technical analysis
Bull on WTI at these level... More reward on the upside!
At these level, its more profitable being short on USOIL than long with a stop loss set....
Hello friends! Last time we got hit on break even level. So as I assumed in my comment for last idea we retraced almost 78.6% of A in wave B (yellow). It is very healthy for us as now market should run higher without setbacks. Entry: At market (30.30) Stop: Below today's low (29.25) Target: 41.00 (where wave C = 1.618 of wave B) Risk/Reward is 1:10 Best...
increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016 oil production is still high despite of decreasing rig counts decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016 Murrey math lines: monthly chart 1/8 –...
CADJPY has been setting up to become a great selling opportunity on a macro-standpoint for the following reasons: I was looking for a drop well-before today's action: twitter.com twitter.com twitter.com twitter.com Fundamentals in a nutshell: CAD is highly correlated with WTI crudeoil, both on a fundamental and technical level. There still is no tangible...
Looks like we just might be widening a bit further on the Brent/WTI spread. If not, today is the day to bet on it narrowing.
USOIL is in the consolidation zone. Therefore, before it goes deep down, there still can be a correction or two which can be grabbed. For today´s trade the pattern worked 100% Please feel free to discuss and specially to criticize as this is my first idea. Thank you for watching!
well, a down trend (red channel) was up before this retracemente begin, about 13 days ago. now a up trend (skyblue channel) seems to be working but it reach the top of the old down trend. if it really get trough it i think the can get get to 36,5 or 37 till thursday. So im long till there :D
... so - this is a continuation chart. Bottom of the January contract was $26.19 /via #CME/. Has $OIL ‘definitely’ bottomed ? ... - #IDTS. But - I am a speculator - not a scientist ... current direction - NORTH. GL!
elongation in the wave III waiting V, after correction ... In most cases, if there is of stretching in the third wave, the fifth wave is the twin of the first, respectively the purpose - in the region of 27.