Oil "appears" toppy but is strong trading week of 04/15.
After a $3 pullback week of 04/01 WTI saw a significant jump despite inventory numbers proving Bearish week of 04/08. This was accelerated due to obvious fundamental forces. But also, see my prior study below and notice how the technical's were demanding a $67 price point before last weeks Syria drama took ...
The continuing short squeeze across the oil complexes is shown
quite graphically on the chart. The reverse head and shoulders
here points to a minimum upside target on Brent at 90.61 so
we can probably expect more of the same in the future. Near
term resistance lies at 81.27, then 83.30 and then a little
further out in time there should be a bigger jump
in ...
Brent Crude Oil UKOIL Update
Bad Bad Thing
Sometimes you have to own up to an over-ambitious call, this
one made worse by sheer blindness, which really stings.
It ain't an eroor in the chart which is as good as gold still right
now. More an error with the pilot...who spotted a large and
still bona fide reverse head and shoulders with an eventual
upside ...
I have been waiting for prices to break up into a 69.37-74.14 range and based on current prices action along with 2014 broken support levels, believe we may see extended sideways action in this range, for several weeks, if prices do indeed break upwards. With the Brent/Crude spread in excess of 4 dollars we are still favoring exports; along with potential Iran ...
The market looks interesting for shorting. We have a double bearish divergence which gives a trend reversal signal. If the price reverses from 75.00 level and moves lower, we should expect for a breakout below the 1st uptrend line. It will give us a sell opportunity. Entry level can be below 73.00 with stop orders above 75.00 level and local swing high. Profit ...
Hey fellow traders, I am traveling for both personal and business over the next two weeks and will not be posted as frequently as usual. If you haven't been following me you have missed a number of accurate predictions in the last few weeks such as the AUDUSD bullish breakout, JPYUSD bull trap, SP500 breakout, Gold price pop, Macy's bullish price explosion and a ...
Brent Crude reached the triple resistance area around 80 level.
I spotted Ending Diagonal EW pattern for you to highlight the possible finish of the current upmove.
Watch the support of the pattern.
Once the price breaks below it then it could be a nice selling opportunity.
Sometimes I enjoy zooming out to go pattern hunting. Found an interesting pattern with WTI that 8/10 times May into June was the end of a trend and the beginning of a reversal. With strong Bullish momentum leading into June '18 one does wonder if the leading average will prevail or if momentum will carry itself through the tumult of June?
Chow!
I don't have experience in arbitrage trading because I personally prefer high risk trades. However, this setup looks to be very interesting. A triangle seems to be broken and a difference probably rising. If I open Oil LONG position I prefer to keep Brent instead of WTI.
The price bounces from 71.00 resistance level and it gives an interesting sell opportunity. RSI confirms price reversal. MACD histogram supports the downward movement. DMI is bullish but ADX line falls and it tells us that the bulls are not so strong now. Weekly chart also gives bearish signals. Pending orders for sell can be placed at 68.00 level with stop orders ...
As you can see Oil slowly returns to a huge Ascending Channel which has started in 1999. As long as Oil is inside of the Channel (or close to it) I am great believer of Oil rise. Due to a symmetry I suppose that we could see a huge move till the top of the channel with possible break (or not?) at a middle of a channel. If this setup comes true you were bought at ...
At 80.5, 5th wave is almost complete. it is extended to 70%. Should top out soon and retrace fast towards 4 which is around 65. Watch out of re-entrance into the channel.
This summer and fall will be tough time for retailers and fuel consumers as crude oil prices are expected to rise in the summer season as well. But it seems that 92-93 will be the ultimate historical top price for the years to come as after that point oil prices will be declining next couple of years. It looks like 2021 (latest 2022) will be the time when crude ...
This is an unsupervised thought on current development of oil price till the end of Q2 2018 - not a recommendation or a call to follow. just made it to see the progress and how wrong one (personified in this case as me) can be
the Ideas came in a while ago, when we had a dump on May 8th, things are very nervous still and there is little that points to this ...
