jangseohee

CL1!, monthly channel support?

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
5936 118 81
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.
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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)
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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


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Related Ideas

AMBRISH
a year ago
Thanks for in depth analysis of WTI Crude. I really appreciate for your various tools you have applied to reach conclusion. I agree with your view.
it has made low of 35.16 on 01.12.2008, 33.19 on 01.01.2009 and 33.55 on 01.02.2009. source: GCI MT4,
I think it may test bottom formed on 01.01.2009.
Salute.
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Excellent work J!
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Darenth
a year ago
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Good work,Jang,i agree with u!
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alansdu Darenth
10 months ago
Nice EW analysis. But wave2 can not be a triangle, is not it?
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jangseohee alansdu
10 months ago
price broke down of this bullish wedge, which has become bearish!!
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Market_Masta
a year ago
looks like a buy for me in the energy sector!
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jangseohee Market_Masta
a year ago
@Market_Masta:
remember? no wick no long ^_^
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Piet.Hein
a year ago
Master piece work! Great content!
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jangseohee Piet.Hein
a year ago
Thank you :-)
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jimmy_hongkong jangseohee
a year ago
Do your charts imply that oil price rises = SPX drops? / oil price drops = SPX rises?
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jangseohee jimmy_hongkong
a year ago
if you look carefully Jimmy,
there is no specific direction in which oil down spx down or oil up spx down, what i did is attempting to find a co-relation but seems like there isnt any
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RIKONIKO
a year ago
Very good analysis, Thank you
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Yahia.Awes
a year ago
Sir, it might break down the channel
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Yahia.Awes Yahia.Awes
a year ago
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jangseohee
a year ago
immediately lower wedge is tested once
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nice quick profits
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AMBRISH jangseohee
a year ago
Very Nice.
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jangseohee
a year ago
don't tell me oil is gonna be volatile like an IHS until 2017
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jangseohee
a year ago
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AMBRISH jangseohee
a year ago
OK. now it is clear.
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jangseohee
a year ago
a chart for UKOIL
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jangseohee jangseohee
10 months ago
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jangseohee
a year ago
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5min entry
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jangseohee
a year ago
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jangseohee
a year ago
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jangseohee
a year ago
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TAJ249
a year ago
Really good analysis. Got me looking at Crude Oil in a whole new way. Appreciated.
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jangseohee TAJ249
a year ago
i could be wrong @TAJ249 with this round of "bullishness"
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jangseohee TAJ249
a year ago
i could be wrong @TAJ249 with this round of "bullishness"
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jangseohee
a year ago
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the gap is gone?!
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jangseohee
11 months ago
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AMBRISH jangseohee
11 months ago
Thank You,
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claydoctor jangseohee
11 months ago
zig zag with lowers lows for a bit, then maybe in March 2016, we final bottom? IMO, this last chart is good I think :)
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jangseohee claydoctor
11 months ago
32-35 is the bottoming zone (worst case 24)
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TF. jangseohee
11 months ago
22 =P
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jangseohee
11 months ago
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jangseohee
11 months ago
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AMBRISH jangseohee
11 months ago
BE PATIENT,
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jangseohee
11 months ago
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AMBRISH jangseohee
11 months ago
Are You happy?
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jangseohee
11 months ago
1st 4hour wick
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jangseohee jangseohee
11 months ago
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jangseohee
11 months ago
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jangseohee
11 months ago
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weekly shown a very small bounce
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monthly still weak
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AMBRISH jangseohee
11 months ago
Yes, crude is weak on monthly basis, i am expecting to bounce till EMA 8 weekly .
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claydoctor jangseohee
11 months ago
I think the channel break is dollar related, china currency devalue pending move, and we get a 20 handle.
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jangseohee
11 months ago
nasty rejection that killed the oil
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price has broke below the blue line
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jangseohee jangseohee
11 months ago
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jangseohee
11 months ago
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jangseohee
10 months ago
http://www.telegraph.co.uk/finance/oilprices/12094394/Oil-price-could-fall-to-10-a-barrel-warn-investment-bank-bears.html
these bankers are making it OFFICIAL, they downgrade oil to even 10 dollar so that the street will unload all oil stocks so that they can ACCUMULATE.
i need a wick to massive long

ask yourself, if everyone is selling, then who is the one buying? as you know for each trade to happen, seller MUST meet buyers
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jangseohee
10 months ago
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candy doji
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WHAT YOU THINK?
crude oil (brent) long soon in 27.00
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IndonesiaBankTrader
10 months ago
OIL
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jangseohee
10 months ago
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23-24. base on this two charts
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jangseohee
10 months ago
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IndonesiaBankTrader jangseohee
10 months ago
jang nice analysis :D
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jangseohee IndonesiaBankTrader
10 months ago
price broke the monthly channel
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IndonesiaBankTrader jangseohee
10 months ago
Sell jang because oil is bearis :D
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jangseohee
10 months ago
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jimmy_hongkong jangseohee
10 months ago
A doji at the bottom. Seems already bottomed for oil? It's so surprised to see it $30 again.
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jangseohee
10 months ago
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dtatzx jangseohee
10 months ago
You were right on this one, nice! Reversal head and shoulders?
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jangseohee dtatzx
10 months ago
it is called inverted head and shoulder, google it @dtatzx
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jangseohee
10 months ago
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jangseohee
10 months ago
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Yahia.Awes jangseohee
10 months ago
What does this say sir? I didn't know about this Crude oil chart.
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jangseohee Yahia.Awes
10 months ago
Oil volatility
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jangseohee
10 months ago
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wick rejection
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jangseohee
10 months ago
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dtatzx jangseohee
10 months ago
Would this mean february will be a good month to long?
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jangseohee dtatzx
10 months ago
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jangseohee dtatzx
10 months ago
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jangseohee jangseohee
10 months ago
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AMBRISH jangseohee
10 months ago
I will be waiting for your next update.
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dtatzx AMBRISH
10 months ago
It's getting pretty interesting :)
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jangseohee jangseohee
10 months ago
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jangseohee
10 months ago
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dtatzx jangseohee
10 months ago
we're seeing a nice resistance @ 26,4x
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jangseohee
10 months ago
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jangseohee
10 months ago
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jangseohee
10 months ago
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IvanLabrie PRO jangseohee
10 months ago
Looks like we can add to longs after this engulfing, I'd wait for one more candle close though.
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jangseohee
10 months ago
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AMBRISH jangseohee
10 months ago
thanks Jang, I am waiting for crude to test Jan Low.
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jangseohee AMBRISH
10 months ago
fingers crossed
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jangseohee
10 months ago
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AMBRISH jangseohee
10 months ago
O.K,
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jangseohee
10 months ago
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AMBRISH jangseohee
10 months ago
Thank You.
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jangseohee
10 months ago
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jangseohee
10 months ago
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jangseohee
10 months ago
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when price breaks down, the projection ideally goes to price of 25
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jangseohee
10 months ago
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jangseohee
10 months ago
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jangseohee
9 months ago
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jangseohee
9 months ago
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jangseohee
9 months ago
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jangseohee jangseohee
9 months ago
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jangseohee
9 months ago
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jangseohee
9 months ago
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AMBRISH jangseohee
9 months ago
Thank You.
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jangseohee
9 months ago
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jangseohee
9 months ago
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jangseohee
9 months ago
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jangseohee jangseohee
9 months ago
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jangseohee
9 months ago
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jangseohee jangseohee
9 months ago
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jangseohee
9 months ago
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jangseohee
8 months ago
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jangseohee
8 months ago
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jangseohee
8 months ago
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jangseohee
8 months ago
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jangseohee
8 months ago
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jangseohee jangseohee
8 months ago
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jangseohee jangseohee
8 months ago
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jangseohee
8 months ago
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Still think it's going lower. Heikens should show it if correct.
12.9 if fast...16.95 if slower...and down bars showing.
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jangseohee
8 months ago
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nbn007 PRO jangseohee
8 months ago
subscribed:)
nice updates))
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jangseohee
8 months ago
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