it seem to me a wegdge . maybe we will have a crazy end of the month. 22 we will have the result of the cutting. for now i wont play it. will wait the end odf the mont or 56.50
good old inverse head and shoulders on the Weekly time frame (long term) orange lines show intermediate cycle low timing and we are due for a cycle low shortly (forecast date for intermediate cycle low is a forecast based on past timing, it is a Speculative target in the future. do not short this immediately based exclusively on timing of intermediate...
Oil's uptrend has been relentless but the advance slowed down to a grind lately, approaching areas of key resistance, where usually supply swamps demand to date. Fundamentals favor the downside here, and I think it's logical to expect a sell off, as OPEC's deal fails to surmount the sale of the US' Strategic Petroleum Reserve (SPR) that was recently announced, as...
Talking Points: CrudeOil Technical Strategy: Sell for correction Elliottwave Count: After had a breakout of 53.50, we are looking for bullish count, consolidation remain due Analysis Based on our previous analysis on CrudeOil (CL), we were stuck on complex correction cycle after reversed from 26.17 level to 51.65. However current market is much clear than...
CL came back to the quarterly R1 pivot 52,00 area and monthly R1 52,16 area. Last week made a attempt at the yearly R1 54,98. Until the new year these 2 level is to watch the quarterly R1 and yearly R1. If the quarterly R1 52,00 area does not hold look for oil to go to 54,98 area.
Details on chart, thinking of open short around 51.35. TP1: 50.64, TP2: 49.8. Need red down line to hold!!
Details on chart. I have a long opened at 50.68, stop at entry. TP1: 51.29, and will probably short from there if it gets that far.
this is the trade i will be looking at, instead of one shown is last published idea, due to the extra time it provides me. The last one used up to much of the front month
Today we had a great setup of a short entry with relatively low risk on 1 crude oil contract. Our reversal bar appeared with a short entry below the low of the bar and the stop loss at the high, trailed three day bars behind the price.
We have closed half higher, near the high of the day, and now stop is at entry price. It might take a while to proceed higher, so there is no rush, simply hold the position for the time being. If you want, you can short calls against it until January but you would defeat any possible upside to come. I did reccomend shorting call options for the $OXY trade though,...