jangseohee

CL1!, Downtrend line broken

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
1948 54 34
8 months ago
Oil             has finally broken the downtrend line that started back in July-Aug 2014.
Price closed above downtrend line on log scale on this weekly chart.

Under normal technical situation price would go higher and return to test the downtrend line to
confirm whether it has turned into support from resistance

i will keep my long as for now - Bullish
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Remember: trade your own plan, because you know how much you can risk





7 months ago
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6 months ago
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4 months ago
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JohnKeverich
8 months ago
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My oil/gold chart chows that oil was rejected at the neckline, rallied back to test it again, and I used it as an opportunity to add to my shorts.

Energy complex in general is facing major resistance at the 34-week EMA
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Russia also looks like a short with a stop above November high
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jangseohee JohnKeverich
8 months ago
good point John,

i see a good bull flag
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JohnKeverich jangseohee
8 months ago
We'll see. I'm giving the Bear case the benefit of the doubt for now. But if oil has truly bottomed there will be plenty of opportunities to make money on the way up.
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jangseohee JohnKeverich
8 months ago
thanks John for monitoring my chart
hope it is of benefit to you
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G13Man JohnKeverich
8 months ago
great remark , always move on and more trades can be profitable when trends are confirmed
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AMBRISH
8 months ago
Welcome Back.
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PooyaSalehipour
8 months ago
nice analysis but maybe :
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bsegura PooyaSalehipour
8 months ago
I vote for this scenerio for WTI
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goodguy PRO
8 months ago
Jang, I agree. I did my long term view as a result and will post. Here is my shorter term view. Thanks for all your charts. Goodguy
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goodguy PRO goodguy
8 months ago
Will be interesting to see if current uptrend can escape the down trend channel.
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jangseohee goodguy
8 months ago
Hi goodguy,
always amazed by your simplicity in charting ^_^
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JohnKeverich
7 months ago
Whoa, what a relentless rally! All my energy charts are about to turn bullish.
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AMBRISH JohnKeverich
7 months ago
Thanks to all of you,
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jangseohee
7 months ago
so after a bullish outlook last week
on the daily chart, price did retest 200ema but gets rejected so far, waiting for the stupid OPEC meeting in DOHA
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jangseohee jangseohee
7 months ago
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jangseohee
7 months ago
the potential bearish divergence warning sign already flashing
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jangseohee jangseohee
7 months ago
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JohnKeverich
7 months ago
Inverted hammers everywhere on the weekly charts:
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JohnKeverich
7 months ago
Russia is testing November highs
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Oil/Gold is breaking over neckline
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jangseohee
7 months ago
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jangseohee
7 months ago
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jangseohee
7 months ago
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JohnKeverich
7 months ago
I'm seeing a pattern in USO: 2-month consolidation before a new leg lower
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USO hasn't been able to break over 10.80 for more than a month now...
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jangseohee
7 months ago
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JohnKeverich
7 months ago
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So, it broke above the neckline, re-tested it, and now off to races? I'm still waiting for RSX to break over November highs, but these developments are undeniably bullish
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jangseohee
7 months ago
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jangseohee
7 months ago
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jangseohee
6 months ago
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jangseohee
6 months ago
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AMBRISH jangseohee
6 months ago
Thanks.
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jangseohee
6 months ago
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jangseohee
6 months ago
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jangseohee
5 months ago
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jangseohee
5 months ago
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jangseohee
5 months ago
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TF. jangseohee
4 months ago
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i see this channel but fibs aren´t stopping the price action... i am betting in the median price of the production cost... low 20´s (world median)
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TF. TF.
4 months ago
macd say bounce soon to catch some bulls
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jangseohee TF.
4 months ago
too many lines
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abail
5 months ago
is your view from 5 days ago still valid on your opinion?
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jangseohee abail
5 months ago
until price says so
bcoz i cannot control the price
but monthly is gonna be high spin doji
so be careful
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jangseohee abail
4 months ago
seems more and more valid
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jangseohee
5 months ago
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jangseohee jangseohee
5 months ago
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jangseohee
5 months ago
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jangseohee
5 months ago
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best indicator by Dennis Gartmen
check the date 5th July
https://pbs.twimg.com/media/CmogcenUkAAwaHj.jpg
and then

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http://slopeofhope.com/2016/07/every-single-time.html
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jangseohee jangseohee
5 months ago
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jangseohee
5 months ago
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jangseohee
5 months ago
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jangseohee
5 months ago
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jangseohee
4 months ago
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jangseohee
4 months ago
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jangseohee
4 months ago
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jangseohee
4 months ago
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jangseohee
4 months ago
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