This shows what, in my opinion, CL might do in the next couple of months. CL will reveal its hand on the day of the OPEC meeting (whatever people think, OPEC WILL create a strong reaction). After that meeting, the candle we get is going to show many things. However, I believe movement after the meeting, into summer, will be much more interesting and violent. It...
CL Tagged the midline of the fork early in the AM today. It appears to still be bullish. Thinking it will test the midline again and zoom through it. Tomorrow, may come back and retest the midline of the fork @ $48.2 and head up for a test of the $50.2 area. CCI is still heading toward the zero line for a cross. Thinking this whole drop this morning to was...
This one is classic. Zoom, test and a potential re-test. However, the target is the lower medianline parallel. If we close above the centerline, then chances are very high for a pullback to the upside. P!
CL tested the 25% area of the fork and should now be headed up to the midline (50%) area for a test. CCI is currently at -46 and should start to cross the zero line to continue heading over 100. Should see more bullish continuity during the E I A report tomorrow on 5/10/17 and also on Thursday when the OPEC monthly report is released.
This is a target for short term bearish channel. Approx time is 3-6 days.
This is a wild ride, but we are not unhappy don't we ;-) The prior LT chart gave us a great indication about the fall. A closer looks reveal that the drop from above is the logical swing that markets do. Targets? Well, we have a couple of them as you see on the chart. See the circles? One at the A/R-Shift, and two other ones at the different centerlnes. First I...
The blue centerline was respected very good. The white U-MLH is not bad too. There is a high chance that price will meet the centerline...hoooly...how about below 25, or even 20? Looks totally crazy, yes, to me too ;-) But hey, we follow the path of price & forks. We act upon what we see, not what we wish to see...veeery hard sometimes hehe... Put context...
Cl is at its extreme within this upsloping median set and has made a higher low after reaching the pendulum median line. This offers a very nice long opportunity with a relatively cheap stop. Target 1: Coil (red box) Target 2: Expansion topside as projected by expansion downside from the coil. Target 3: Upper MLH
Looking for the $USDCAD to drop here with this ETP-4 pattern. If pattern fails will wait until 1.46.
This trendline has held for a year and a half despite all the crazy events. Time to get long oil.
Just bought /CL 49.52. Stop below Fridays low. New highs the target. Will add to the long at .38/.41.
All looks good here. Price is at the lower extreme. Hmmm...what's a trader gonna do with it? Wating for some intension and don't jump the gun. Hunting Cap on... P!
Here we have it picture perfect! On the left side, you can see the big sine-wave-swing. These sine-wave swings often get broken fist, before a further movement in the original direction. And so it happened. Price was not able to move further north. Oil organisations did all to keep price up - even manipulating in the news... As I wrote in the previous post:...
A pretty interesting technical opportunity has unfolded on one of our favorite instruments: light sweet crude oil futures. From a fundamental point of view, after a historically tight range-bound market, price action broke down violently as US crude inventories surprise came in early march. Price continued to fall to $47.00 throughout March. In late march, the...