Today I take a look at the Crude oil Market.
Firstly we have completed a major multi month 3 Drive pattern and have sold off over $4.
The last 2 sell offs have been in the range of $5-$6 so this could do something similar and head higher.
At this stage I think we have topped and should see a decent correction to around $80 or possibly more if you look at the weekly/Monthly charts. I will post the longer TF charts in the comments.
The other option is that we get one more rally up to the $100 mark to complete the last ABCD 3 Drive pattern.
What im waiting for now is a PB into the 50-61.8% from the current move down to short and go from there. Once again I will post shorter TF charts in the comments with the intraday AI for today.
Everyone is talking about OIL to 100-150 and more but if we look at history in 2008 there was talk of OIL $200 but within a year it was back down at $40. Dont always believe what you see in the Media..
I hope this helps with the OIL and how im looking at it.
Enjoy the day.. 👍👍
Firstly we have completed a major multi month 3 Drive pattern and have sold off over $4.
The last 2 sell offs have been in the range of $5-$6 so this could do something similar and head higher.
At this stage I think we have topped and should see a decent correction to around $80 or possibly more if you look at the weekly/Monthly charts. I will post the longer TF charts in the comments.
The other option is that we get one more rally up to the $100 mark to complete the last ABCD 3 Drive pattern.
What im waiting for now is a PB into the 50-61.8% from the current move down to short and go from there. Once again I will post shorter TF charts in the comments with the intraday AI for today.
Everyone is talking about OIL to 100-150 and more but if we look at history in 2008 there was talk of OIL $200 but within a year it was back down at $40. Dont always believe what you see in the Media..
I hope this helps with the OIL and how im looking at it.
Enjoy the day.. 👍👍
Comment:
On the longer term TF we could come back to $50-60 and still be bullish.
On the longer term TF we could come back to $50-60 and still be bullish.
Comment:
If we are in the 50-618% area at 7:30pm Jakarta Time this evening that will be a set up I look for when entering trades. Patterns + AI. 👍👍
A lot of info, I hope it helps.
If we are in the 50-618% area at 7:30pm Jakarta Time this evening that will be a set up I look for when entering trades. Patterns + AI. 👍👍
A lot of info, I hope it helps.
t.me/OCEANAISIGNALS
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Check out the free Telegram group for Trade set ups and Market Updates. Also one on one coaching now available. Message me for more info and a free 30min consult to see if my strategies work for you.
15Min chart showing the area that could be a potential sell area.