wti is close to breaking the triangle, downwards > that would open anoter bottom reach and most likely bears will push it down, to reach a final minimum <$40. there is the buy opportunity, and wait patiently until $60+, as downward possiblity limited to the $30s. RSI also divergent on the 3h chart, and daily also bearish. plus, USD is up, and will go upward some more.
The same idea. This one is looking nice, intact. Maybe we'll see 49,3 (sma50) and then finally break above the yellow line (54,5 aprox, and also sma100 at 53,7). IF this one touch 49,3 is a buying opportunity. The STOP is the same that I use weeks ago: 47,75 aprox... Buy this one, and get out at 73...
Oil looks bearish here on a macro timeframe. It broke down through the upward macro sloping trendline around Aug. and then thru the 50 dma in Sept. and has been in a downtrend ever since then. The fast decline and bear mkt. caught many by surprise. Oil is currently showing a macro bear flag pttn. w/ tgts. being in a range of 27-16 lvls. depending on where you draw...
For me Pivot Point 45.0 and CL1, Motion Channel The Zone Checking. There is resistance at 53.53 In case of exceeding the 53.53 level and makes up to break the channel, the channel can go up to the highest point, "57" Fibonach be up to 0.382% level. However, my personal opinion; Point to be withdrawn again test the upper channel ( 53.53 touch and down) Thanks
Just go long and forget it. This is not going down anymore. Acctually is going to sma200 days, that is, 75/77. Big bullish divergence, look at the 3 new lows with RSI going up... and the sentiment is also really low. I will only close this long if we close below the sma20, that is right now 47.75 aprox... but I dont think that's going to happend...
According to this chart, WTI bounced from longterm trendline. Break of it, along with AP line, would be huge event - could happen as well, of course. But unless broken, odds are supporting sideways outlook when it could take quite a long time to get to 65/70 area at median AP line (longer one) - slow CCI is much deeper than in 2007 (like in 1986), and price action...
THAT'S TRADING...we were looking for a pullback that didn't happen and our rules say "No Trigger, No Trade" and we didn't get a trigger therefore we are not in this move. Does it hurt...YES! But discipline pays and with discipline you will miss some moves. If you are short CONGRATS! Be sure to take some profits and move stops. $41 is approaching fast. We are...
Crude has broken down and we will look for pull back triggers to get short. We will look for crude to visit the 41 area. REMEMBER: NO TRIGGER, NO TRADE
The nice thing about TradingView is that it is very easy to create custom hybrid charts so you can begin to look at charts that no one else really looks at. I was wondering about the relationship of the USDCAD vs Crude. Compared to early 2009 we can see that the relationship got to 26.75 which means that we are getting close to 2009 but if things get really bad we...
Crude is still bouncing around and not finding a direction. Stops are building just above the 54.20 area. If we take that out we will most likely see a nice move. In the mean time we sit on our hands and wait for a good setup. Nothing yet. Keep on the watch list.
We were hoping for a CL break to the upside over the last two weeks but we got nothing. It's been chop city. We will be very cautious with trades to the downside. So we will sit on our hands with Crude and wait for something to setup.
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