Two inside days means we are about ready to rock with Crude. This is a clean flag and we still like the upside but BE MINDFUL THAT CRUDE can go either way. There are a lot of factors at work with oil. Don't be a hero and guess. Wait for the market to tip it's hat and look for a trigger.
Crude is getting closer. We are still monitoring around the clock and will drop down to a lower time frame and look for triggers. We still like the upside but with crude you never know. When she breaks she will most likely move quickly and far. Keep on your watch list.
The dynamics of crude are changing. Crude is getting close to popping and now that this flag has formed we are liking the upside more and more. We are monitoring this around the clock and will drop down to a lower time frame and look for triggers. Watch fake breaks to either side. Also, a hard break to the upside it could spell trouble for the equities.
This is a time where all fundamentals about the oversupply of oil, glut, and worsening global economy should be ignored. It is simply so oversold that it in the near term it will vastly outperform most other assets. There's simply a limit to how low it can get before it bottoms. No, WTI (USOIL) isn't going to $20 in the near term yet. I do see a possibility of...
We have pulled our buy orders off the table with crude. We have seen 4 straight days of up and down so we will let crude trade on Monday before accessing. However, crude is consolidating which means another move will happen soon. OPEC says prices will continue to stay low until the beginning of the year. Will they be right or will the bulls force the issue? ...
We are still watching crude for an entry long. We would like to see price re-visit the trigger zone and touch the lower flag. We are being CAUTIOUS with crude. This beast can blow through an area quickly so MAKE SURE IF YOU ARE TRADING CRUDE YOU ARE USING A TRIGGER! Define your risk and be good with it.
Would of, should of, could of...That was another nice move off the trigger area but as we mentioned before it wasn't deep enough into our zone. Now crude was rejected at the upper flag so we expect price to fall into the range and hopefully test the lower flag in our zone. Patience is needed! It's on our watch list.
Crude is experiencing some incredible moves which may be a sign a bottom is near. When bottoms form there is wider moves with volatility...we are watching the trigger zone for a possible long entry. We will keep a tight leash on the trade is it triggers. You never know with crude. NO TRIGGER...NO TRADE!
We saw an acceleration of buying above $47.00. It's safe to say a lot of shorts got shaken out of the market. Now we watch. We look for consolidation or a pullback to the $42 area. Will OPEC follow through with it's comments or will a rate hike send crude back down to the lows? It will be a tug of war and we are placing our bets on OPEC. We are seeking to...
see the chart to understand
After a rocket off the bottom and a nice trade, Crude needs a rest. Is the bottom in? We don't so...soon though. We feel crude could make another attempt at a bottom to shake out the weak longs. However, if crude wants more upside from here we will need to see some consolidation. Above the $47 and we could see an accelerated squeeze. Crude is on our daily...
At the last market bottoms was 10% bulls. Strong turn bay signal.
Dont see much upside in the fundamentals, the only worry is that everything including the longterm is already counted in. Im really concerned of the spread of ISIS which might influence my view. I think news will decide direction, short or sideways with bias to the medium term trend which is bearish.
4hr trend seems to be showing signs of new upside momentum along with formation of good demand zones on lower timeframes. 6407 seems like a good entry to go long - with supply (several retests already) at 6565 - may offer good decent reward/risk. Large impulse seemed to be reaction to demand at 6270
Reached the peak of the megaphone developed since January 2015. Expecting 0.5 fib pull back of the leg starting from $41.98 before resuming the uptrend to $77 range. Given that $54 have been a strong resistance earlier (and now a support), it could be a potential target to start closing short. Entry: 59.36/60.48 Stop loss: 62.65 (new highs) Take profit: 52~54
Look at this price action on Brent. On the daily it is visible that the price is close to the 38.2 Fibonacci retrace and XA=BC. The PRZ (potential reversal zone) could be between 70 and $72, buuuut... look at the 240 min chart. Perfect Rising Wedge with a very interesting divergence on the MACD. And we should add the fact that $70 is actually an 127.2 expansion of...
I think it will be local hight soon and we will go down to 28.50$ per barrel.
i think like this , in this area time, we can think about short crude oil . but this sort is not so heavy . tnk