MaryJane
Short

Still seems bearish...next shortterm target 42,3$?

NYMEX:CL1!   Light Crude Oil Futures
993 19 52
After the in my former Analysis exspectet break of the 44,5$, the downtrend and bearish momentum accelerated..

Former Analysis:
Shortterm view: Smells bearish
https://www.tradingview.com/chart/CL1%2521/fEIRUevd-Shortterm-view-Smells-bearish/
Shortterm view: Oil             reached an action point @ 44,5. For me it really looks bearish ..the only thing that makes me thinking of is the oversold RSI ..because of the oversold situation i have illustrated the alternative way of my view (orange arrow). Prices below 44,5 are bearish - the tp copuld be 43$
Comments are welcome - agree or disagree !
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Comment: Jihaaaaaaaaaaaaa - downmove is in full swing!!!
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Comment: only trading above 43,3 will brighten the shortterm chart
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Comment: oil fully reached my shortterm target - nokw the Situation is strong overwsold in this timeframe.... RSI oversold - Price out of the BBs!!! It has toswing back a bit and reenter the BBs.!
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Comment: big Picture: we are trading near the big 38,2 fibo - the possible right shoulder. In the daily, there is place for a further downwave ( 41,8 / 38,8), the Situation is not yet oversold
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Comment: the 38,2 fibo @ 41.92 magically attracts oil !
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Comment:
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Comment: 42.6 / 42.4 are the Levels to watch for shorts (shortterm) - the chart only brightens above 43$ in this timeframe
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Comment: reached next Action Point rsi nearly oversold in this timeframe
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Comment: RSI again nearly oversold - perhaps oil will test the 41.90 again before the next doenwave
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Comment: oil reached next action Point!
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Comment: aha aha
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Comment:
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Comment:
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Comment: reached again an Action Point!
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Comment: Flag is active now
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don`t Forget to adjust your SL
Comment: perhaps we will see a retest of the bo-niveau @ 41.65 - the rsi is oversold again
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Comment:
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Comment: oil nearly reached tp
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Comment: will we see a dip to 40.5 today? Between 40.5-40.75 i exspect a shortterm countermove
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Comment: DING DONG!! TP reached!! CHEERS!
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Trade closed: target reached
Please answer me this MJ, why oh why is Oil so popular, it hardly moves ??? Maybe a few pips per day if your lucky, or am i reading it wrong. I have been wrong once already this year so a second time is not going to happen, hahaha
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MaryJane Batman-oz
i think People love trading oil, because it is possible to trade it 24/7
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MaryJane Batman-oz
a few pips a day are ok - if you are heavily leveraged :-)
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Batman-oz MaryJane
Yes, my leverage is 100:1, so it does not excit me that much, but thanks for your answer.
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tbuckle PRO Batman-oz
What are you talking about "only a few pips per day". Look at the daily candles and tell me how my pips of movement are in each one just from the top to the bottom of the candle. Next look at a 1 day 1 minute chart and tell me how many pips of movement there is factoring in all the ups and downs with in that day? ???
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MaryJane tbuckle
;-)
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andrej123456 Batman-oz
Nice chart. What do you think where could be next bottom/ reversal ? Do you still holding the short ?
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i agree
i think will go down 42$
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If we have oversupply today, the next step will be 38.2 Fibo again? thanks
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Reached my 161.8 Fibo yesterday (from the first wave down in June). If it bounces, should go to 45 but Daily MA is a magnet.....
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captain_smollett PRO captain_smollett
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MaryJane captain_smollett
what is it for an MA?
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Dialy 200 Moving Average, very strong support/resistance level. I bet tonns of buy order are set there...
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For today i expect a close in the 40...
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MaryJane gughino2013
wow....if the downflag gets real, my tp also would be 40,8$
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Nice chart. What do you think where could be next bottom/ reversal ? Do you still holding the short ?
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in free fall !!
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incredibile how accurate you have been with your analysis
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MaryJane killianobriain
thx a lot
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