timwest
Long

CL1! - Crude Oil - Daily - Turning Up for low-risk long

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
1725 19 15
Another attempt - note the last one didn't flash a buy signal by climbing through the top of the breakout box earlier this week. But here we go again, it flashed a buy already a couple of times, we shall see if it does it again here.

Tim

10:46AM 45.42 last
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seine
2 years ago
do you think it will turn direction right away and not take time to turn?
+1 Reply
arad700 seine
2 years ago
To my mind, it will take a few months to turn direction.My forecast is around 4 months.
Reply
seine arad700
2 years ago
i see. thanks
Reply
arad700
2 years ago
Dear Sir, I don't understand the concept of breakout box.How can I plot it? At what areas it is valid?Breakout box is a new concept to me could you please give me some tips?
Reply
arad700
2 years ago
I believe, in addition to technical analysis, fundamental factors should taken into account. This is more likely to lead to a reliable anticipation. Oil price is a function of a variety of factors from supply&demand to political disputes.
+1 Reply
seine arad700
2 years ago
yeah but fundamentalist said that oil can never go below 100 last year. you still believe it works?
Reply
arad700 seine
2 years ago
Which fundamentalists? A noticeable number of them had anticipated such a drop around 6 months ago.I believe lots of cues had shown up this.
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timwest PRO arad700
2 years ago
I believe in fundamentals and I love it when fundamentals and technicals line up. It would be great to have a fundamentals page for each instrument and people could comment and agree on whatever they think is the most important. One page like a Value Line Report and a 2nd page with Pros/Cons.
+2 Reply
WeeMee
2 years ago
well you called it 47.22 right now, damn i wish i'd jumped on :) very nice work! many thanks for sharing such great tips!
+2 Reply
doTheBounce
2 years ago
The flat channel was much more visible on UKOIL
Now we need a confirmation in the following days.
snapshot
Reply
WeeMee
2 years ago
48.25 high! talk about a nice trade !
+2 Reply
IvanLabrie PRO WeeMee
2 years ago
Nice going! Amazing work from Tim as usual...This should fuel my CAD trades. :)
Have a great weekend everyone.
+1 Reply
baerrus PRO
2 years ago
What do you use to trade this idea, futures, oil etfs?
Reply
GMOTruths baerrus
2 years ago
Good question! What about everyone else? What are you doing?

I'm using this price to trade related energy stocks. ISTM that RE is in demand, and solar is down. New homeowners getting solar might be a market. SPWR seems to be doing ok on earnings, at least.
Reply
WeeMee baerrus
2 years ago
i think it's called oil cfd
Reply
TreborDone
2 years ago
EFT , DWTI ready to short :)
Reply
GumerShafigulin
2 years ago
Tim I want to open a long position 'Brent'. Will you be so kind and tell us the next lowest level to open the position or probably the oil lowest levels are nowdays?
Reply
WeeMee
2 years ago
i'm waiting for the price to reach 40 before i think of long term longs, Saudi oil ministry said that it could go to 40 a few months back and they still wouldn't cut production. if you ask me that was as good as a nod saying oil will go to 40 bucks. time will tell as always....
Reply
andrein
2 years ago
up to where would you say it will go ? 56-58 or is it best to take profit at previous recent high of 51+ ?
Reply
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