chartwatchers
Short

OIL - Houston we are going down

FX:USOIL   Crude Oil (WTI)
4655 36 65
Still below the 10 & 20 EMA . Today price had tried to recover above the 20 EMA but failed. Unfortunately I missed today the adding point at the 20 EMA tag. From now I don't suggest enter short position here because we are getting too late in this 2nd daily cycle. The SlowStoch has reached the oversold levels we just need the crossover, RSI is entering the oversold territory. MACD looks ugly though : it seems to be far from the reversal.
I think we have around 3-4 days before the DCL. I will be watching the RSI reversal deeper in the oversold territory and Slow Stochastic to cross over before calling the DCL.
The 200 SMA looks a bit too far on tha daily chart now. I think the DCL will be printed at 46 or 43 $.
In the following 3-4 days we will see how steep will be the decline.
Comment: Arrived to the 50 EMA. We are almost at the DCL. Maybe tomorrow, maybe Monday?
SlowStochastic is crossing over , RSI seems to be turning up in the oversold territory.
MACD is bearish though. (MACD usually gives a late signal)
snapshot
Comment: It seems we bottomed.
I wait for today's data and decide to get out or stay in the short position.
Thanks for all your hard work!. I'm compensating the loses from the gold short from this one. Looking forward for a reply in regards of my coment on your NGAS chart.
Thanks boss!
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I've been watching your chart. I personally think if you hope to go Long (up trend), you don't want to see DCL at 200SMA. If it hits 200SMA, I think the trend will be down instead of up. Another word if it's below $42, it's trend down. But this is just me thinking.
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Thanks for the update. Unfortunately I sell half position of DWTI at high today because of FOCM to reduce risk, taking profits. I will keep the rest, letting it run.
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Thank you Sir! :)
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http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_6449ebcc6f8b19fde30fcbe410a3bf5c.png
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guidorizzato6969 galaxytime77
Can you translate in english what are you writing?
thanks in advance

guido
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galaxytime77 guidorizzato6969

Weekly evaluation.
I wrote levels can be seen, respectively.
43.60 I said that strong support.
It is an amateur operation.
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guidorizzato6969 galaxytime77
thanks
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galaxytime77 guidorizzato6969
Not at all!
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snapshot
Excuse me Sir, can I ask if this is the crossover you were looking for? Thanks again yeah :)
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AL_G oilyprata
good observation
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But I maybe wrong, as I used the stoch. instead of slow stoch. Let's wait for Arpi. He is the real deal not me =)
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It's just a kiss. And we need the Slow Stochastic
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oilyprata chartwatchers
Thanks so much Arpi :)
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Bit late for going down, time to reload and rocket back to 51
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Thank you for the updates!
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Thanks for your share!
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Thank you for your updates and analysis. You are the man! =)
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Gents ... since you talk alot about Slow/fast stochastic ... are the settings (14,3,3) for fats & (14,3,1) for slow ... excuse my beginners question
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I looked it up just to be sure. Fast stochastic settings are 14,3. Slow stochastic settings on 14,3,3
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shero USSRandolph
Thank you ... but what would be the K% value for the fast ?
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Time to go long? I missed that 46$, because I thought it will still go down. For now I have target buy at 46$, hope we will go there today last time
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Couldn't be just a retracement to go more deep?
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Chart do you think the lower target (45-43) is still valid?
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nnavarrete MiDiGre
We will know after the news today. The Rig count comes out.. I hope we do go down to 43...
Opened ERY and DWTI when oil was 51.42 Closed my ERY and DWTI yesterday 25+% profit... switched to ERX and UWTI before marked closed and I closed the long positions this morning with 10% profit... switched back to DWTI and ERY.... expecting a bigger drop.. if nothing happens I will close and probably go long before the end of the day.
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i already buy some oil company stocks. seems to early...
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I think bottom maybe 45.9 but if it is , it will retest it soon..
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Noticed the 1h chart the RSI and stoch are overbought, likely would drop abit i feel
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I love your crude oil charts. This reversal looks very similar to saudi´s beartrap on 22.3.2016. Let us know if you think we bottomed already. I think it is possible as the dollars is not strenghtening as we predicted. Thanks
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The world awaits your analysis! What now? Please do share! Thanks.
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Hi Chart, base of Elliot cycle on medium term, i think after a cycle waves 12345 was finished at the broke channel from 26 look like is starting a correction ABC, where B actually can extend to 49.5/49.8. After a wave C can be create a last pullback in area 45/44. Two months ago i supposed the last Wave 5, stop at 50.8, but was stopped into next resistance 51.2.
What do you think?
Thank so much.



Maybe Elliot correction ABC
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excellent, could you share some books mention DCL, thanks you very much. Does it come back to bullist to 55.
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Are we in the correction move for a short or is it still undecided
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This seems to be a serious reversal with bullish three solders on Daily chart?
snapshot
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Is this still going short? or is it forming H &S for big short? Comments?
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