Brent crude may be about to drop through its current support zone that ends at $79.35, derived from multiple Fibonacci confluence. If that happens then a continuation of the decline to the next support zone, starting around 71.03, becomes likely. Alternatively, an intraday reversal above $79.35, could see a rally from the current support zone. Note that the...
Petroleo Brent rompe la barrera psicológica de los 80 dolares el barril y extiende su previsión bajista para esta semana
Hello Everyone, After a long period of Consolidation in a Symmetrical Triangle, The Crude finally broke out to the downside and did a major drop. So big that it worried a lot of countries feeding on the black gold. Nowadays it feels like people are no longer fan on commodities. They'd prefer more of the greenbacks than golden back-and-fronts. As you see...
We were hoping for some bottoming action on crude but the consolidation suggests another leg down. If so the 76 area is on tap. If they squeeze the weak shorts on a momentum move up then we will look for a level 2 entry for higher targets.
Hello guys, After the recent break of crude oil out of a really lengthy consolidation phase (Triangle), as anticipated we're seeing lower lows ever since. This trending environment makes every Elliott Wave trader happier than any other time. In the previous 14 days we've been sitting in the retracement of the recent down-move. We're heading towards a sweet...
#WTI is now bouncing between 80 & 85, a rough come back to 80 is not excluded
We are short...and taking heat. Our targets are posted. 92.50 (continuous contract) is acting as the line in the sand.
We are out! We took a small lose on crude based on a bullish pattern. The dollar is in charge and we are not fighting the fed...so we will revisit later. NEXT!
We were watching for an entry on the bounce but it didn't get to our zone. After this big drop we WILL NOT be looking to short. That's trading. You have to be discipline enough to wait for your areas to get hit. If you are short...congrats. If crude decides to take out the major support then we could see a nice move down to the 88 area.
Crude has bounced nicely after a test of the major support area. We are watching for a short entry around the wedge breakout. If crude decides to take out the major support then we could see a nice move down to the 88 area.
Too bad I do not have h1 data, as usually I will try to vizualize my setup in h1. currently there is a bear flag channel forming and close to completion. Upon break I will look to short, target till ~100 round number, give and take. Just a primitive play , trend folowing but still utilizing my usual setup to get in. I also have macd divergence on the h1 as one of...
breakout + macd and RSI suggest a short
No bounce for crude so it will go on the watch list. The next area of support is the 91.50 - 92.25 area. Don't try to catch a falling knife. Crude can rip your head off and drain your account if your not careful. Wait for the knife to stick in the ground. We will watch the next support area.
This week we will see the EMA (50,100,200) and MACD,RSI for various diagrams. The UKOIL 4H technical analysis training diagram shows the following: UKOIL reacted last week towards to EMA 50. MACD has a bullish divergence and RSI is trying bullish. The Market generally is bearish. EMA 50 is under EMA 100 that is under EMA 200. Long for EMA 50. Watch the...
We are back inside the weekly trendline. This is a major line and I expect some fighting in here before we get a definitive direction. If you are long from support keep stops tight. Targets would be 99.00 - 99.75 area. FYI...if you are trading the SEP contract you should roll into OCT on Monday. We do not have a position...we missed it (Bummer). Have a...