Rule of 52, by the name you must have understood that it has got something to do with number 52. Your guess is correct but this has got nothing to do with price prediction it has got everything to do with time, when price may turn. Up, Down or Sideways all such analysis can be done once you understand rule of 52.
This is just an observation, traders around...
the further out in time we go the smaller the spread between front and back, so thinking the front to out 6 months should narrow so going to take a position on that idea
Oil Traditionally goes up in February due to expectations of refinery buying. Because of the untimely rise it took in November, it's rise maybe delayed / stalled a bit as there seems to be a lot of selling pressure. Magic words to any producer is to hedge output at 55 for this year. There's going to be a lot of uncertainty due to a new government and that can...
Crude Analysis for January's 2nd Week. I see crude as Bearish hitting $53.13 and $52.58 this coming week. It is possible for crude to break the previous high of $55.21 or get close to it as indicated in the "Shorting Zone." If that point is high I would highly suggest entering with a heavy short position and targeting the target if those have no been hit along...
As prices are nearing last weeks intraweek support chart for my weekly level, Oil -3.82% - Higher Weekly Low? chart, i wanted to offer my thoughts on the next possible supply/demand levels. Today saw quite the drop and I am expecting a swing at the 51.2-51.6 level and will look for an approximately .3 retrace off of the leg down from 54.32 which would see prices...
Weekly light crude oil chart with support and resistance trend lines. RSI and ROC are included, as well.
For context, here is an image of the monthly candles with the same trend lines.
A two year consolidation in crude oil prices may be resolving to the upside. The current RSI resistance trend line is being retested which will be indicative of the direction of future price movement.. Of note, however, is the negative divergence in the ROC.
The angle of the current pitchfork channel (Modified Schiff) that prices are moving within is larger in magnitude than the angle of the longer-dated, broad pitchfork channel. That may imply that price action is accelerating to the upside. Keep in mind, for this assumption to remain valid, the channels must stay intact.
I have overlaid a Fibonacci Circle study,...
There is a potential UP Channel where OIL could bounce and hit 51.59 resistance on Dec 22nd then 2 scenarios are envisioned:
A) OIL failing down to 48.56 until Dec 27, 2016
B) OIL Defeating resistance up to 52.33 until Dec 27, 2016
Cheers,
Keops
