jangseohee

CL1!, monthly channel support?

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
5954 118 85
It has been 17.5 months since the break down for triangle consolidation was published Aug 2014.
The last oil             price crashed took 19months before it recovered (July 2008 - Jan 2009             )
Is history/statistic going to repeat? I think the "manipulators" know it all

on 21 March, i had a long and silly glance at this oil             chart for almost 1 day, using log scale i though the channel support around 34-35 (+ - ) could be the ultimate turning point. Anything beyond i cant tell
Oil             price is settled at 35.325 as of daily closed.
snapshot

snapshot


As far as wick/rejection based trading is concerned, there isnt any sign of potential reversal yet,

I am not a EW fans, but that is the 12345 that i can see, just a projection which coincides with monthly channel support (interesting)
snapshot


due to the bearishness of analysts, news, media, sentiment on economics, even there are calls on 10/20 per barrel, it is possible thought, but i am NOT calling it.. let the price unfold one step at a time, for NOW, no monthly or weekly wick.., and Monthly candle not completed yet!!!

i do include the worst case scenario
CL1!, drop to channel bottom?


Mixed relationship between Crude Oil & SPX


snapshot
nbn007 PRO jangseohee
subscribed:)
nice updates))
+1 Reply
snapshot

Still think it's going lower. Heikens should show it if correct.
12.9 if fast...16.95 if slower...and down bars showing.
Reply
jangseohee jangseohee
snapshot
Reply
jangseohee jangseohee
snapshot
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out