Possible a larger wave 1 is complete and now wave 2 5562 (.618(
Maybe done with up move here at 2.618 of wave 1 reached at 5678. Possible wave 4 .382 retrace to 5607 before wave 5 1.618 extension to 5622 which would complete a larger wave 1.
Plotted more potential waves. Wave 5 of a larger 3 to $5981. Larger wave 4 0.382 retrace to $5574. Larger wave 5 1.618 extension to $6232
Possibly starting wave 5 to 59+. Wave 3 2.618 extension of wave 1 and popped out of the channel. Wave 3 0.382 retrace and back to the bottom of the channel. Wave 5 1.618 extension of wave 4 to top of the channel.
Oil market Oil traders have not yet decided on further price direction, but rather are looking for an excuse for pullback than for backing last week rally. According to Baker Hughes, the number of drilling rigs in the US increased last week while production reached a record 9.62M bpd. The most alarming part in fundamental picture of the US output was the pace of...
1) Since lows seen at the beginning of 2016 until now we have seen UKOIL -0.14% forming an inverted Head and Shoulders pattern which has been broken upwards recently (weekly chart). 2) Fibonacci levels since May 2015 to Jan 2016 have been touched repeatedly, and acting as supports and resistances so far, specially 38.2% (at 43.3 usd/bbl) and 61.8% (at 53.3...
Time to break out! As u can see, im gonna try to sell something! Good luck
Hello traders! OIL it goes slowly to retest the previous top. Watch the price action at that level. It is possible to get a correction before moving forward. TRADE WITH NO EMOTIONS!
There is a lot of selling pressure at these levels, and I don`t think the prices will be able to stay in this area much longer. I expect Brent oil prices to drop to 40-42$ per barrel by the end of 2017/early 2018, and go up from there to higher levels at 60-70$ per barrel by the end of 2018. One of the factors being able to influence negatively the price of oil...
BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection. this is based on pure TA, so as always, it could be wrong. trade at your own risk.
Global Short Trend, sell from levels Signal: Sell Limit 1 - $55.45 Sell Limit 2 - $57.27 Stop Loss - $61.45 Take Profit - $44.40
Wave (iv) of 3 (of 5 of 5 of impulse C) is ending so we should have a good up trend to 56 next week.
on the run without words... Now we look for the bottom. The long adivse is not confirmed now! So watch for yourself. I wrote some month ago we see 42 again. Maybe only 44 - 43 so look on your timeframe what happen and than look for a long after oil has a bottom. Good luck for all.
Brent 4H long and short Resistance:53,57 - 54.68 Support: 51.14 -49,97 This is not investment advice
Chart shows everything. 4 hour closed above MA9 ergo -and RSI seems fine. Ergo -I went long.