Now that we are back to about zero for our entry position and waited a deep pullback out. We did hedge some so made money's on dip and on rise back after. so overall money made, but entry position still at zero. Now we expect breakout. Price is getting squeezed in EMA's and horizontal resistant at 83. If 83 is broke, than should go to new high at 85.4 with take...
Because of the price decline, and according to my analysis of modest art, I expect a sharp drop in the price
We swept the lows on the 4H OB. Considering this might be an SFP, taking a LONG towards the FIB 0.79. There is also a bullish divergence present on the RSI which gives another impulse for a LONG.
I think we are ready for the next big rally in oil, this will cause a dramatic effect on inflation and affect earnings negatively going forward long term. I think it could reach as high as over $100 a barrel by mid August here. If so, the impact on the economy would be very large, with a delay of 6 months according to research by my mentor, @timwest With the...
This Friday is going to be one for the Books in Crude Oil. We have API/EIA/RIGs Data ahead this week. Participants are clearly positioned for the Measured Move. Our Fills remain open at @ 82.15 to 82.69, backtesting the Support Levels after Last week's Price Levels.
Weekly: Price has hit support for the second time and although the divergence is not pure, it is kind of a bullish divergence, on MACD-H and EFI. Stochastic RSI is coming from an oversold condition and shows some movement in a positive direction. Also, -2 ATR is has been the outer stretch mostly and could indeed pull up to value zone Daily: Ticker has made up a...
Crude Oil is wandering in a Desert for Price once again, we Observed the Pit over Close @ 66 vs 73 - A higher close. Cl Traded Resistance during Globex, it is now Trading to Support. Friday's are generally kind to CL, CL Friday's remove more Capital from Traders than any other day of the week. Trade the Range - Gaps have a nasty habit of filling on CL...
Amazing how many traders venture into the Bahama Banks of Trading - Crude Oil Twice a day, the bellows of Open Outcry remnants begin. CL has always used the .55 and .85 as PIT PIVOTS. You can too. The Salient Point here is this... The 82.69 Pit Close is highly relevant in TREND... 8266 traded during the PIT this AM Session. It completed 2 Objectives: 1....
85.10 was our Price Objective, it was met and dipped in by a Tick. We have patiently traded the Front Runs of AM & PM Pit Opens off the Lows, the AM Session was an amazing runup. CL can pull back to 80.22 - 80.71. Although the Wedge indicates Higher... Wall Street always gets its Fill.
Today, we will look at the weekly chart on Crude Oil, one of my favorite assets to trade due to the astonishing technical behavior, and how reliable it is when a trend is confirmed. First, we will analyze this from a technical perspective: - The price has broken a triangle pattern (ABCDE) - After reaching the first resistance zone, we saw a breakout of the...
We indicated breaking and Closing above the 77 had the Potential for an explosive move higher. The Weekly High to High Extensions show the clear Trend and ST Price Objectives. The Channel, crystal clear. 104 / 107 / 114 remain the Longer Term Objectives unless the Weekly Trend Line fails. ____________________________________________________________ CL is...
Here is the show of oil, for now he gives us to see that he want to go up more so we can follow with him, as we can see that he did more than restesting, now in consolidation to boost to up Have a nice Investement or trade
The High to High Measured Move on the 4 Hr indicates it NEEDs to continue to move Vertical. CL adores Fridays... So do the Chasers in CL. It is a trade laden with Safety for some, they see it as a hedge, a necessity. They are not wrong, the break from 77 gave us a clear indication we would eventually Price Hunt 104 / 107 / 114 / 148 and far higher in time. We...
Crude Oil often provides information as to where Equity Price will begin to Trade, more often than not it Leads. The DX is providing what little lift remains in the 80 - 85 Range. EIA is out today @ 10:30 AM EST. The reaction will be informative, bares close observation.
The Monthly CL Draw - 6.50 to 148.40 Draw provided clear guidance as to the Break of 77 as we indicated on the Breakout. If you followed the Trade, it has been solid, we're $6 over the break. The Apex has a number of higher Targets, 85 - 88. We will see the reaction @ the Zenith of the first, second, and third Apex. The Price of many Soft Inputs - Canola, Soy,...
CL is testing Large Years-long Resistance and Support. Patience will be required, the Run to the Price Objective just shy of $80 @ $79.80 was a large Front Run. It will be interesting to see how OPEC games this. Supply is frankly not an issue, it is a matter of choke points being used to disrupt.
The CL one hour time frame was in an up channel. The market has broken above the top of the channel. It will be a good idea to look for low prices above the top of the channel. Entry: A closed candlestick above a counter trend line break bullish above the top of the channel. STOP: 73.88 LIMIT: 82.69 As long as the market stays above the top of the channel. It...