jangseohee

CL1!, monthly channel support?

NYMEX:CL1!   Light Crude Oil Futures
5952 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.
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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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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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Good work,Jang,i agree with u!
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alansdu Darenth
Nice EW analysis. But wave2 can not be a triangle, is not it?
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jangseohee alansdu
price broke down of this bullish wedge, which has become bearish!!
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looks like a buy for me in the energy sector!
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jangseohee Market_Masta
@Market_Masta:
remember? no wick no long ^_^
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Master piece work! Great content!
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jangseohee Piet.Hein
Thank you :-)
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jimmy_hongkong jangseohee
Do your charts imply that oil price rises = SPX drops? / oil price drops = SPX rises?
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jangseohee jimmy_hongkong
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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Very good analysis, Thank you
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Sir, it might break down the channel
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Yahia.Awes Yahia.Awes
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immediately lower wedge is tested once
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nice quick profits
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AMBRISH jangseohee
Very Nice.
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don't tell me oil is gonna be volatile like an IHS until 2017
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AMBRISH jangseohee
OK. now it is clear.
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a chart for UKOIL
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jangseohee jangseohee
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5min entry
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Really good analysis. Got me looking at Crude Oil in a whole new way. Appreciated.
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i could be wrong @TAJ249 with this round of "bullishness"
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i could be wrong @TAJ249 with this round of "bullishness"
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the gap is gone?!
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AMBRISH jangseohee
Thank You,
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claydoctor jangseohee
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
32-35 is the bottoming zone (worst case 24)
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TF. jangseohee
22 =P
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AMBRISH jangseohee
BE PATIENT,
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AMBRISH jangseohee
Are You happy?
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1st 4hour wick
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jangseohee jangseohee
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weekly shown a very small bounce
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monthly still weak
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AMBRISH jangseohee
Yes, crude is weak on monthly basis, i am expecting to bounce till EMA 8 weekly .
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claydoctor jangseohee
I think the channel break is dollar related, china currency devalue pending move, and we get a 20 handle.
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nasty rejection that killed the oil
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price has broke below the blue line
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jangseohee jangseohee
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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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candy doji
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WHAT YOU THINK?
crude oil (brent) long soon in 27.00
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23-24. base on this two charts
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jang nice analysis :D
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jangseohee IndonesiaBankTrader
price broke the monthly channel
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Sell jang because oil is bearis :D
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jimmy_hongkong jangseohee
A doji at the bottom. Seems already bottomed for oil? It's so surprised to see it $30 again.
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dtatzx jangseohee
You were right on this one, nice! Reversal head and shoulders?
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it is called inverted head and shoulder, google it @dtatzx
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Yahia.Awes jangseohee
What does this say sir? I didn't know about this Crude oil chart.
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jangseohee Yahia.Awes
Oil volatility
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wick rejection
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dtatzx jangseohee
Would this mean february will be a good month to long?
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jangseohee jangseohee
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AMBRISH jangseohee
I will be waiting for your next update.
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dtatzx AMBRISH
It's getting pretty interesting :)
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jangseohee jangseohee
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dtatzx jangseohee
we're seeing a nice resistance @ 26,4x
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IvanLabrie PRO jangseohee
Looks like we can add to longs after this engulfing, I'd wait for one more candle close though.
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AMBRISH jangseohee
thanks Jang, I am waiting for crude to test Jan Low.
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jangseohee AMBRISH
fingers crossed
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AMBRISH jangseohee
O.K,
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AMBRISH jangseohee
Thank You.
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when price breaks down, the projection ideally goes to price of 25
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jangseohee jangseohee
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AMBRISH jangseohee
Thank You.
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jangseohee jangseohee
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jangseohee jangseohee
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jangseohee jangseohee
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jangseohee jangseohee
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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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nbn007 PRO jangseohee
subscribed:)
nice updates))
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