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...
After comments from our Daily chart of Crude we decided to post a weekly chart. Note how Crude has been winding since mid 2011. While the swings can make for good trades be sure to consult a higher time frame chart in order to get a clear picture. Crude has slammed into it's support...will it bounce or keep sliding. We will start watching lower time frames...
We missed it! After a nice head and shoulders pattern Crude broke the neck line and started consolidating for another leg down. We are not in this trade. We took this off our radar screen and unfortunately there were a couple good trades. We don't chase trades so we will wait. Take a look at a weekly crude chart. While it is moving...we are in the middle of...
Below 103.94 careful. Any closing below 103.94 invalidates the pattern for long.
The Brent oil (UKOIL) 4H Diagram Technical Analysis shows the following: The UKOIL price has made a long term decline under the resistance red line. This resistance line is under the KUMO, which means that the UKOIL is bearish in long term. The weekly diagram shows bullish trend and the monthly marginally too. Monthly diagram is likely to follow an symetric...
i think that is a good moment to go long in brent 1h chart, because price is in 0.618 retracement and in a strong support level.
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,...
I think that technically brent now is overheat and also the tension between West and Russia slowly goes down. Fundamental outlook says that oil supply is greater than demand, also we wait Iran's comeback to the market in June. The first goal is 106, then lets see....