Oil analysis update on daily chart (2016-03-12)

Crude Oil FuturesNYMEX

Description

⋅ Mar 12, 2016 8:20 PM

Oil will meet a huge resistance at around 39.8. The daily RSI also shows a divergence. These will result the pull back soon.

But from time cycle analysis, the correction wave does not finish yet. After the pull back, oil might go up again to 43.5.

Good luck for everyone!

Crude Oil Futures WTI (CL1!)timecycle divergences Trend Lines

Comments

levikoren

⋅ Mar 20, 2016 10:17 AM

Successful trading week for everyone

zhipengcfel

⋅ Mar 20, 2016 10:34 AM

Glad to hear that!

levikoren

⋅ Mar 20, 2016 10:16 AM

Very nice. I'm at the beginning of trading, thanks for the info.
It seems most professional technical analysis

zhipengcfel

⋅ Mar 20, 2016 10:32 AM

Thanks for the comments. Everyone starts from the begining. Just keep learning and put what your have learned into your own analysis system.

Drapal

⋅ Mar 13, 2016 8:23 PM

Thanks i short !

zhipengcfel

⋅ Mar 13, 2016 8:26 PM

If it breaks the support line, the short will be confirmed.

AMBRISH

⋅ Mar 13, 2016 2:31 PM

thanks .

zhipengcfel

⋅ Mar 13, 2016 2:33 PM

It is my pleasure!

AMBRISH

⋅ Mar 13, 2016 2:35 PM

I liked it. As per your chart n analysis support is at 34.29 ?

zhipengcfel

⋅ Mar 13, 2016 2:50 PM

Thanks. And there are supports at around 36.1 and 35.5. If 36.1 and 35.5 are broken, it might go to 34.3.