Oil has continued its corrective pattern as we have fallen from the $90's, back deep into the mid $80's. The corrective impulse took us back to $85.55, which dedicated readers will remember is a strong support level. We have seen green triangles on the KRI to confirm support every time this level has been tested. The Kovach OBV has flattened, suggesting we will...
A few simple observations that tell of Crude falling over, despite a previous week of strong bullish price movement from OPEC cuts announcements. Weekly chart had crude price break above the 55EMA strongly the previous week with a marubozu like candlestick. However, not only did it failed resistance at 94 (dark green line); it broke back down in failure of the...
Crude Oil futures have failed at their attempt at overcoming the 200 day SMA. The remains a difficult market to swing trade. However the day trading has been great!
Hello ladies and gentlemen, according to my chart analysis of the PETROL, there is a high probability of a decline toward the $117.00 level in the next few weeks!
Oil has been maintaining the range between $85.55 and $90.06. We anticipated a dip to $85.55 and support there, which was validated with this dip. However, oil appears to be continuing a sideways corrective pattern, as it establishes value just below the $90's. We anticipate higher oil prices, as no fundamentals indicate otherwise for now. But we must first...
Oil has fallen but is finding support in the high $80's. The level $87.21 seems to be providing good support, with two green triangles on the KRI serving as confirmation. The Kovach OBV confirmed a strong rally that took us back to the $90's, just shy of $94. Two attempts to break higher formed a double top which suggested an inability to make new highs and...
10. 12. 22 This is turning out to be ABCD pattern Week. That's okay because you should work the heck out of every new tool for weeks>>>>And then you Integrate it with all your other tools. Hopefully you don't use too many tools. You should really use the 382 retracements when you're working with the ABCD pattern. Yesterday hypothetically suggested did you might...
10.11.22 On this video, I'm looking for ABCD patterns it might help us define reversals. I am using the oil and the gold charts to look at these patterns. In fact, there may be a reversal pattern for the will to go higher, and for the gold to move higher based on the ABCD patterns.....Do not trade this. Get a feel for it before you risk capital.
Following our break-out buy signal last week, the WTI Oil (USOIL) has entered a Resistance Zone, which since the start of August has rejected the price every time with the temporary exception of 1 day (29-30 Aug): Eventually the Channel Down turned out to be wider. The price is now pulling back since hitting the August Resistance Zone and the 4H RSI has been...
WTI has been one of the few markets to stand up to recent dollar strength, with prices rising over 16% last week alone. A strong bullish trend has developed on the 1-hour WTI chart. The 20 and 50-bar EMA’s have provided dynamic support throughout the trend and may provide bullish opportunities with a pullback towards them. The 20-bar EMA is near the daily pivot...
Oil futures have found some recent support and a bounce due to OPEC+ decisions regarding production cuts. Support and resistance structures have been adjusted accordingly for your reference.
This market is witnessing an unusual movement and the possibility of a rise is very high My advice is to buy
NYMEX:CL1! This market is witnessing an unusual movement and the possibility of a rise is very high My advice is to buy
This market is witnessing an unusual movement and the possibility of a rise is very high My advice is to buy
two days ago they gave you news that there is supply cut; retail are rushing in to buy oil to take to new highs but little do they know the plan is to take the oil down to abyss the plan is evil and eveyrthing is planned
In this update we review the recent price action in the the Crude Oil futures contract and identify the next high probability trading trading opportunities and price objectives tot arget
OPEC+ has taken a tough stance, slashing output by 2 million barrels per day (bpd) beginning in November 2022, the largest reduction in crude oil production since March 2020. In addition to production extending the agreement through 2023, oil producers have agreed to hold semiannual rather than monthly meetings. WTI oil briefly spiked to $87/bbl following the...