$WTI #crude in #AUD . Fractal target double bottom in late April
under 31.45 short TP 29.71 SL 32.64 if the price rejection with a good setup going long to the channel
Overview : US oil surges 6.2%, closes at $31.48 a barrel after a group of oil-importing countries said energy stockpiles will grow at a slower pace on monday. On Technical charts, Very Short term trend of crude is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom formation on chart. Market is...
I think WTI has formed a Head & Shoulders Pattern which if I have read correctly is one of the strongest Technical Indicators..... This should lead to Oil falling to at least 28 and maybe even 26 again.... Iran not agreeing to cut with OPEC is perfect timing to push it up enough so it hits the neckline as you can clearly see happened today..... It's all algo...
Look forward for further trend movement. Log scaled chart. *** WTI CRUDE OIL OUTLOOK FOR Q1 2016Y
After failing to break above the grey resistance zone we now find ourselves back at the 28.10-27.54 support zone. A break below here will indicate further decline in the market with 25.13-23.61 zone being reached. Shorting below $28.10- $27.54 zone
this shuld work out ok if no major wars breaks out ;)
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 –...
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
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.
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.