increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016 oil production is still high despite of decreasing rig counts decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016 Murrey math lines: monthly chart 1/8 –...
well, a down trend (red channel) was up before this retracemente begin, about 13 days ago. now a up trend (skyblue channel) seems to be working but it reach the top of the old down trend. if it really get trough it i think the can get get to 36,5 or 37 till thursday. So im long till there :D
oil been falling sharply this year and today we are below 32 level wich we did'nt see from 2009 based on the historic move we are looking for 24,50 then 19,50 and finally 12 wish i' am sure a lot of country's will not love this
Crude Price Cycle not necessarily quantifiable, but overlays pretty well across the board. A very nice Shiff Pitchfork certainly may showcase more merit for holding long term support and a forecast for the largest year-over-year production change in history (see Oil Prices Charging Lower As Oversupply Concerns Plague Traders ) entertains the notion that WTI...
Detailed intraday plan, from the Global Forecast!
We do not even know, what to say. Everything is reflected in the charts in terms of the fundamental, historical and wave analysis. Maybe we are wrong, and the oil, will take the form of long-term correction, but the growth is unequivocal in the coming years. This is our opinion. Yours faithfully!
I've been short since 44. Took profits on Friday at 41.
Expect last wave E inside of triangle wave (B) to fall down to 43.00-43.50 area. Then it will be strong wave up in (C) of ABC to finish wave 4. Target for wave 4 is in range of 50-100% of wave A. (49.18-54.96) Then down in large impulse wave 5 (will be recalculated once wave 4 is done) Lucky trades friends!
My fellow bears and superbears, the time has come to short WTI crude oil and capitulate all the bulls. The last Fib extension cycle points to a drop to at least $42, and if the bearish momentum maintained, we could see 37.53 by the month's end. As a perma bear I hate to say this but I must warn you all that if we fail to breach the triangle within this cycle,...
For this plan to work, the 4H candle on 9th Sept 05:00am, NY time, must close below 45.52.
Synopsis: 1 - Price traces two interlocked Geos 2 - Smaller (BLACK) Geo completes its 5-point regimen; Aims for 1-4 Line (Wolfe Wave rule) 3 - Larger Geo is pending Point-4 & 5 in the 19.10/1844 range 4 - TWO bullish targets exceed 1-3 Line of larger Geo: a -- TG-Hi = 36.20 - 30 AUG 2015 AND b -- TG-Hix = 39.72 - 30 AUG 2015 5 - Bullish Target may align with...
Please check out the full article here: oilpro.com The Energy Select Sector SPDR® Fund (XLE) has been battered, and it is starting to bruise. With the price of crude now just hovering $43 per barrel, this exchange-traded fund (ETF) is likely to get a whole lot cheaper. This fund has support near-term because Wall Street is discounting recent events in the oil...
There's a strong support for oil at $37.72 and I believe that will be the bottom in the coming months. It is only bouncing given the extreme oversold condition and that does not change the fundamental fact of an over supplied oil market and many more that are stored in offshore tankers. I highly doubt the long term log trend in black will hold. (Temporary bottom...
I typically don't recommend trying to pick bottoms and tops in any market. The unstoppable move lower in crude is very tempting to try and find a bottom when it does happen. I recommend watching the 46.60/48.50 price range if crude gets down there. I think it has potential to hold this massive down trend. I feel confident that when the bottom does hit we will...
Cruel crude oil screaming for a bounce here after a big slump :) A historical bounce zone and completion of a bullish butterfly.
Yesterday WTI Crude Oil (/CLM4) completed an MACD divergence crossover on the DAILY chart. This signals a start of an intermediate downtrend (Less than 1 Month) for the Oil Futures. Trade Idea: SHORT /CLM4 at current prices and add more up to $103.45. Stop Loss is at a break of new highs at $104.20. Profit Target is $98 to $96. If you like trading Options,...