Wait for a Signal

NYMEX:CL1!   Light Crude Oil Futures
Recent downtrend in crude oil             probably will countinue following months. It could not break the R1 level (0.63 level) and with the high chance it will get down to S2 level (lowest level in 2009) (strong support level in 0.76). Which will end up seeing perfect Gartley in R2.
You can trade with the structure levels or you can wait for R2

Good luck
Great chart!
Would you suggest a strong buy at S2 with R2 as the target. And just wondering, what would the plan be after R2 is reached.
What i think is, it is ideal trend following trade with gartley support. To buy @S2 would be agresive trade but it is tradable, but if it touches or (passes) S2 level and bounces back to R2 level i strongly suggest to sell @R2 level with the stop loss @X level.
JulianHiguera nijat.namazov
I believe you are still right and WTI may still go down to 32ish.. any way you can update your chart given recent developments from the past two days to see if your analysis still holds?

Thank you
nijat.namazov JulianHiguera
It seems now crude oil in 37.75 price level which entered short term correction to test S1 level. I am expecting it will hit targer (S2 ) next week. Let us see what will happen.

JulianHiguera nijat.namazov
That makes sense. Granted Yellen or some Saudi Prince starts talking the market and Oil up....

Thank you
You are welcome
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out