DESCRIPTION ON CHART..... WATCH LEVELS FOR RESPONSE.....
DESCRIPTION ON CHART....STUDY PRICE ACTION ....... WE GET PAID TO WAIT.
Pin bar in value area between MA8/MA21
DESCRIPTION ON CHART..
STALKING A "TREND LONG" NO OVERBALANCING ON THE INTERMEDIATE TREND YET...
PRICE SITS ON "POTENTIAL SUPPORT" THEN SHOWS Its hand through Price Action Manage.......
CRUDE is getting pulled up to higher "Price Flow areas....Price shouldn't take the low of the three bars back...if it does the trend is suspect.
$CL_F $NG_F On a both a relative basis with oil and on an absolute price basis, natural gas is trying to complete a false breakdown. Going forward look for nat gas to significantly outperform oil.
WE ARE ENTERING "TIME AND PRICE " IN A POTENTIAL REVERSAL ZONE.
LAYING OUT THE PROBABLE PATHS OF PRICE $26.06 -23.80 AT SUPPORT...WEEKLY CLOSES ARE SHOWING BUY TAILS. LOWER TARGETS ARE STILL POSSIBLE 35% CHANCE PRICE ACTION WILL CONFIRM ITS PATH.
$CL_F It is likely that the bearish cypher pattern on oil has now been completed. As such I am expecting a minimum pull back to the .382 level or around $32. This lines up well with the previous down trend line and is likely the next reasonable buying opportunity.
Time Window is there.....pullback or melt up to the Harmonic Levels...... Inside Day today possible forming.
ODDS FAVOR A BOUNCE...POSSIBLE RETEST OF THE LOW OR FALSE BREAK DEEPER INTO THAT AREA.
A BREAK ABOVE CAN LEAD TO TARGETS OF $45-$48 IF NOT HIGHER OR ANOTHER NEW LOW TO $18-16