MaryJane
Short

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

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
992 19 52
8 months ago
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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8 months ago
Comment: Jihaaaaaaaaaaaaa - downmove is in full swing!!!
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8 months ago
Comment: only trading above 43,3 will brighten the shortterm chart
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8 months ago
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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8 months ago
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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8 months ago
Comment: the 38,2 fibo @ 41.92 magically attracts oil !
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8 months ago
Comment:
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8 months ago
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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8 months ago
Comment: reached next Action Point rsi nearly oversold in this timeframe
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8 months ago
Comment: RSI again nearly oversold - perhaps oil will test the 41.90 again before the next doenwave
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8 months ago
Comment: oil reached next action Point!
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8 months ago
Comment: aha aha
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8 months ago
Comment:
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8 months ago
Comment:
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8 months ago
Comment: reached again an Action Point!
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8 months ago
Comment: Flag is active now
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don`t Forget to adjust your SL
8 months ago
Comment: perhaps we will see a retest of the bo-niveau @ 41.65 - the rsi is oversold again
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8 months ago
Comment:
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8 months ago
Comment: oil nearly reached tp
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8 months ago
Comment: will we see a dip to 40.5 today? Between 40.5-40.75 i exspect a shortterm countermove
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8 months ago
Comment: DING DONG!! TP reached!! CHEERS!
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8 months ago
Trade closed: target reached

Related Ideas

Batman-oz
8 months ago
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
Reply
MaryJane Batman-oz
8 months ago
i think People love trading oil, because it is possible to trade it 24/7
Reply
MaryJane Batman-oz
8 months ago
a few pips a day are ok - if you are heavily leveraged :-)
Reply
Batman-oz MaryJane
8 months ago
Yes, my leverage is 100:1, so it does not excit me that much, but thanks for your answer.
Reply
tbuckle PRO Batman-oz
8 months ago
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? ???
Reply
MaryJane tbuckle
8 months ago
;-)
Reply
andrej123456 Batman-oz
8 months ago
Nice chart. What do you think where could be next bottom/ reversal ? Do you still holding the short ?
Reply
ardi.kota
8 months ago
i agree
i think will go down 42$
Reply
Dguaman
8 months ago
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
8 months ago
snapshot
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MaryJane captain_smollett
8 months ago
what is it for an MA?
Reply
captain_smollett PRO MaryJane
8 months ago
Dialy 200 Moving Average, very strong support/resistance level. I bet tonns of buy order are set there...
Reply
gughino2013
8 months ago
snapshot


For today i expect a close in the 40...
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MaryJane gughino2013
8 months ago
wow....if the downflag gets real, my tp also would be 40,8$
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andrej123456 MaryJane
8 months ago
Nice chart. What do you think where could be next bottom/ reversal ? Do you still holding the short ?
Reply
nbn007 PRO
8 months ago
in free fall !!
Reply
killianobriain
8 months ago
incredibile how accurate you have been with your analysis
Reply
MaryJane killianobriain
8 months ago
thx a lot
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