Update to this 5 wave count > And internal waves of A in this larger degree count > Even though oil hit the .382 level at $55,57 it retraced and climbed a little higher, I think there is still a little more to come, the .382 extension from wave 1 is at $55,91, from there A may be completed before a larger correction back to where the move the $50 mark started,...
Possible triangle in Crude Oil. Below 55 would invalidate the pattern.
Key levels to look out for when analysing Brent Crude Oil , please refer to H4 chart for a strategic view!
Update to several theories: The 0.382 level was hit which could conclude wave A of a larger correction, B may correct to the .382 level which coincides with a backtest of .236 at mid $50
Price broke down Upward channel - that is a good short-term sell signal. I think Oil will move down to $50.00 - $50.45 - that is a buy zone. Near that could be a great buy signal.
Hey tradomaniacs, welcome to another free signal! Important: Place a Sell-Stop @ Entry! ----------------------------- Type: Swingtrade Sell-Stop: 59,921 Stop-Loss: 61,01 Target 1: 58,782 Target 2: 57,82 Target 3: 56,625 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see...
Slight variation on the 5 wave count from this idea > Looks like a triangle is forming, a break below 5185 would invalidate it.
Last week I got a lot of questions about gold and oil. I understand the recent political crisis in Venezuela is the hottest topic now. As this country has the largest oil reserves in a world. But at the same time it doesn’t have much impact on world supply and demand. So, I don’t think this situation will help oil bulls to break out from the current price range....
WTIUSD - Inverse head and shoulders? DXY and FOMC catalysts next week. Watch for break over $54.50 on WTI and target .618 Fib level. Depending on FOMC statements on rates, DXY could get saved here or go down more. EIA report Jan 23rd build of 7 Mboe vs 1MBoe expected build. Good luck!
Although we are still on the upward trend The price of oil encountered serious resistance in the form of an Ichimoku cloud! We recommend selling now Sell Brent Entry price: 61.45 Stop Loss: 63 Take Profit: 58.75
Key levels to look out for when analysing Brent Crude Oil , please refer to H4 chart for a strategic view!
After completing the 1-5 cycle in more global wave A, the price had created a bearish impulse which I consider a developing wave A in global wave B. The instrument has corrected to 61.8% Fibo level. Going short using levels marked on the chart.
We can open buy on OIl near $53.19 - Daily trend bullish - Price broke up key level $53.19 - Daily candle close above Oil price is moving to key sell zone $57-$58 After 100 like I will do all updates and will write S/L and T/P points it there will be an entry.
Update to this idea > Looks like wave 4 is complete by running flat ABC and now in the 5th wave to $55 level, from there possible correction to complete right shoulder of inverse head & shoulder before the next leg up.
Hi Traders, We might ended the falling price at this point, the long confirmation levels are 56.3 and 58.16, consequently. good luck
RSI Overbought & divergence, (1HR) negative Chinese GDP data could see a shock to the market on Monday.
As per Bulkowski there appears to be an "M" pattern in crude oil > thepatternsite.com Sell once price closes below the valley low for 50+ pips.
Potential correction theorized earlier maybe be part of a larger wave 4 to .382 or .5 level, followed by wave 5 to 55 or so >