Drawing different trend lines for oil allows us to get some support and resistance levels for the intermediate term. For my full analysis including more charts check out www.enhancingcapital.com
Lot of pundits on Crude Oil. The MA cross overs is a first bullish start to consider long
$NBR Nabors looking strong with #3 Excess Demand calculated yesterday (see side legend). Run looks good into earnings.
CL could break this week. Take a look at your weekly charts. Price keeps bumping up against the upper resistance. This is on our "watch closely' list.
CL is stil range bound and now has formed a small ascending wedge. This si on our watch list. CL could break for a nice move soon.
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI
Crude oil is almost bottomed out, now price of $43.5-46.5 became a very strong support and main area to watch for future price projection, Closing below these levels will might raise a doubt of further price slashing till $40 or below but in my view this is very unlikely. Stochastic is also indicating the reversal sign and behavior of indicator is very much...
CL is range bound for now and could go sideways for a few week. We are still trading inside the monthly trend line and we will favor the upside for now. Watch more CL commentary: youtu.be
From a fundamental point of view, US Crude has moved with the Dollar since last fall almost on par. Considering the USD will go up again with the latest job numbers, rate hike (most likely an announcement will be out sometime soon - 2-3 months and problems in Europe (Grece, Ukraine), and considering the underlaying fundamentals for Oil haven't changed, I'd say...
Crude had a nice bounce Friday. The volume was strong and now price is trading back inside the Monthly trend line. A test back down into that trend line and we will look for triggers long. See our weekly update for more: youtu.be
CL made a new low in the March contract. The continuous contract is within a few ticks. Regardless of what contract you are trading CL is still weak and standing in front of this train wreck is bad for your account. We will stand aside until we see the first sign of upside volume then we will place it on the watch list. Watch more on our Weekly Video Update: youtu.be
I think there is further room to go down, though if we see the coming week ends positive gains, we will take a position to buy with a $20 target profit. If you are interested for the Alpha Generator to buy crude oil on your behalf and manage those positions, please feel free to message me josh@thealphagenerator.com. We estimate a profit of 75% to 100% within 1 year.
4th wave ongoing and 5th still in store. The 5th wave came but most of the action happen before market opened. It went as fare as to 4.00.
Crude oil wti futures on approach from above to linear trend line from Dec 1998 to Nov Jan 2009 extended to present. Should see a bounce or stabilization at least. Need to re analyze as condtions in this market are NOT normal. Caution on the long side. Likely short covering. Activity slowing down upon approach. Over night likely to have the move.
#3 wins the race. They continue to dump crude now some are calling for the 48-50 area. We say that's a guess and would not trade it. We don't trade guesses. We see alot of buying on the new lows the last 4 days. Coincidence? We're not sure but we have a very close eye on the energies. Place CL on your watch list. 3. I should mention if price blows...
CRUDE UPDATE. After a couple more days of consolidating Crude is looking to make a move. We still like the upside for a short cover rally but we've been around long enough to know nothing works out perfect. Crude can fake you out quickly so here are two scenarios that could play out and we are watching. 1. Price blows through the upside wedge. We would be a...
The crude rest looks like it will be short lived. After a big bounce Friday we are looking for a breakout to the upside. LESSON...anytime you see a lot of wicks on the candles(see the last three days) it signals a lot of selling or distribution. Once the bulls gain control they can take out the highs and squeeze these late comers. We are on alert for a nice...
Not sure that much can be inferred from this chart, but I found it quite interesting all the same. Puts the speed and size of the recent move in context (S&P up, Oil down).