chartwatchers
Long

OIL - One more gift

FX:USOIL   Crude Oil (WTI)
3829 36 55
Nothing has changed here. We broke out of the flag and was holding the breakout. We could have closed with a green candle , but Fischer's speak and the strengthening dollar pushed price back to the 10 EMA and the flag.
Oil             shares are holding nicely. Nothing to worry about : we are in the good direction.

I think it was another buying opportunity on Friday again.
kizly
3 months ago
Same opinion tanked ERX yesterday. Some corrections are still possible next week but I beleive stocks will run up.
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kizly
3 months ago
Sorry tanked on Friday
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On this chart after the low at $39 I see.
Scenario 1: ABC correction of down trend completed and price resume fall. In this case it can go lower than 39.
OR
Scenario 2: Impulse sub-wave 3 completed and corrective sub-wave 4 maybe completed or maybe can have one more leg down to C. If wave 4 already completed and its low was on Aug 24 at $46.43. Then the 5th wave will be about same size of wave 1 = $4 as wave 3 was definitely extending (green, green, green). So the target is $50.5 high of first bigger wave. Then we go into DCL the target for wave 2 correction/longer consolidation. So if this scenario unfolds I would cut position at around $50.5 and wait for DCL.
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watsonzou26
3 months ago
There was big sell pressure around 48.3-48.40, short term i see oil going down in my view. I sold ERX last Friday.Wait to see if 43.00-43.30 will be holding.
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PhamPhan
3 months ago
Crude oil price: $ 46.77 more likely to be the lowest price of the day. I bought
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AaronSwan PRO
3 months ago
Interesting Crude is trading down about 2% while ERX is up 1.6% seems to good buffer against some negative price action.
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PhamPhan
3 months ago
46.4 If the threshold has remained. Oil is long
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SupraBoy
3 months ago
Looks like today is the opportunity, no Friday.
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Looking at oil from currencies perspective. Here is Russian ruble. Looks like rounding bottom to me with intend to go much higher (Ruble dropping against USD)
snapshot


Here is CAD. Broke 50MA today and looks like confirmed DCL.
snapshot


Both of these currencies simply cannot fall if OIL is rising. Strongly rising. So... Be careful playing oil. I think it may fall hard once again 2016 - 2017.
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SupraBoy pbartashevich
3 months ago
In those two charts, I see the USD going higher against the CAD, but the Ruble is going higher against the USD. So there is a conflicting message there which we can't use to dictate price of oil.
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MassimoMattioli
3 months ago
Hi Arpi,,,

what's the strategy now,,,looks like next stop 45,50$ or 44,50$ (where i see a small gap),,,add long position around that area,,??

Regards
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TexasTower85
3 months ago
Arpi, I appreciate your analysis and ideas. But when your trade breaks down I hate that you run and hide.

Over the last few weeks, examples of this are rampent. Where's the update on LABU? USD? GDX? USO? Your loyal followers are seeing red. Why not come update what the changing signals mean or at least have some discussions?
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hittkts TexasTower85
3 months ago
he might be busy with damage control?
oil, gold, and natural gas all going against him.
i like his charts, very insightful.
i read them but do my own analysis.
im generally cautious when i start seeing things like "I'm still 100% sure that ...."
only thing certain in trading is uncertainty itself.
my 2c anyway
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Polarmass TexasTower85
3 months ago
His account got banned for no reason.. So he update on twitter apparently, have a look below
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twoCents
3 months ago
Check Apri on twitter for updates: https://twitter.com/ArpiKerenyi
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andrej123456
3 months ago
Check this: https://twitter.com/ArpiKerenyi
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Biggles
3 months ago
Tradingview please reinstate chartwatchers account :(
+4 Reply
AliQaiser Biggles
3 months ago
what is it bro ???
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koastech
3 months ago
Hope to see you back @ tradingview will follow on twt. Thanks for your insights
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MassimoMattioli
3 months ago
so what the hell is happening,,,??45,30$ in one minute,,,,,really don't like this move
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MichealBass
3 months ago
USOIL LONG at 45.72
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Tj PRO
3 months ago
Arpi, the sell volume is high in October Crude Oil Futures (CLV2016). Does it change the game? Thank you.
snapshot
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StanLeee PRO
3 months ago
It is 10cents far from the trendline. Do we buy now at 45.16?
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AYosof
3 months ago
Any updates based on the move today?
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TexasTower85 AYosof
3 months ago
http://oilprice.com/Energy/Energy-General/Oil-Slammed-After-EIA-Reports-Significant-Crude-Build.html
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TexasTower85
3 months ago
Guys, I think it would be prudent to give some other viewpoints their own merit. This market appears to be headed down and if the jobs report tomorrow happens to land within expectations or beat them a lot of what Arpi is predicting will be in trouble as the dollar will be in a strong rally. Arpi, I respect what you do, but just wanted to share some other ideas.

forker:
CL - Crude Oil on it


hittkts:
THINK RED

+1 Reply
AYosof TexasTower85
3 months ago
ARe you kidding me?
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dannyinhouston PRO TexasTower85
3 months ago
Dude find your own thread to post your ideas, Jeez
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val_trader
3 months ago
Hi Arpi, what do you think about today fall ?
Thanks!
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andrej123456
3 months ago
I think this excess oversupply can push the price back to 40 before it will rise again which would happen before the meeting in Algiers . I am long on futures, but I am thinking about opening long covering short expiring 18/11 ... What do you think ? If you have any suggestion about this, write on your twitter, I will check it.
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bertcoin PRO
3 months ago
All - Arpi has posted "No Panic" on twitter with chart and comment: https://twitter.com/ArpiKerenyi
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-Andrew- PRO bertcoin
3 months ago
Shouldn't take every trader's analysis as the gospel - Good to have insights from someone, but ultimately make your own analysis and compare
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bertcoin PRO -Andrew-
3 months ago
I read many. But of all the trader's analyses I read, Arpi is the only one to explain why and teach on both wins and losses. Priceless and greatly appreciated.
+2 Reply
AaronSwan PRO bertcoin
3 months ago
Agreed Bert look at his post on 8/12/16 he called for a retrace of 43.43 kind of late but it happened

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DenverNugt
3 months ago
we going back to a crime scene 40 $ : ) small bump on de way down 42-43 $ area
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GoGreen
3 months ago
I bought oil at 44.80 and now oil on 43.30 (Friday 2 Sep) what do you suggest must we buy another one from here because major US data is expected today.
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