Crude is in a free fall and shouldn't blindly be bought. We are see a descending wedge forming, which is one of our favorite patterns. Will will look at this trade as a "POP" instead of a position. A break of the wedge and we should see a quick move to the 21 day EMA. If we can get some MoMo then possibly higher.
Please check out the full article here: oilpro.com The Energy Select Sector SPDR® Fund (XLE) has been battered, and it is starting to bruise. With the price of crude now just hovering $43 per barrel, this exchange-traded fund (ETF) is likely to get a whole lot cheaper. This fund has support near-term because Wall Street is discounting recent events in the oil...
The dollar-yen has been able to recover a sizable portion of yesterday’s ensanguine price action, following the dollar’s rejection from key technical resistance. Support for USDJPY remains clear with the Federal Reserve’s promise to hike rates, supposedly, sometime this year. With the Fed keeping traders guessing, the dollar remains in an upward trend as the...
Well currently the price has formed a double top, we also have a shooting star candle at point 3 around 62.48$. Currently 2 places to short: Short Entry 1: Short @ 0.764 Ratio==57.75$ Stop loss @ 63$ Take Profit @53$ Short Entry 2: Short @ 0.618Ratio==54.85 Stop loss @ 63$ Take Profit @ 50.16
Well i'm expecting price to break above 62$ (which is 200day moving average area)....If price closes above it should rise upto 70$ by August-September. If price fails to close above it, than we can expect consolidation in the daily chart back to 55$ a barrel. So, you'll need to either wait to buy it at 55$ or you can buy it with a pending around 62$. You'll have...
Fundamentals, OPEC maintaining volume capacity, coupled with technical analysis suggest that the recent rally in Oil is running out of energy. I expect a reversion to the lows expecting a retest of the recent lows throiugh the summer. Risk to reward ratio looks favourable
I'll call this "NEUTRAL" because the uptrend is still trading around the MODE, which is now 15 days and is at today's range (See chart). The DOWNTREND from the high is in place, but the price is at that mode also. So, it appears likely that we are forming a triangle here because no trend is "strong" at this point. You can see that the uptrend time expired...
Not much to say here. We see an obvious regression going on indicating an uptrend is about to take place, however it's also possible the stock price follows the triangle pattern plotted breaking through the bottom (bearish) or top (bullish). It's any mans guess at this point.
Fibonacci Retracements point to a continued rally for HAL given the recent uptick in commodity prices. I'm looking for a breakout to $52 (38.2 Fib Retracement), pullback to $48 (23.6 Fib Retracement), at which point i'm buying with a price target of $55 (50% Fib Retracement). Could go higher, but the upside will be relatively capped given the level of the...
Four months ago I posted a weekly chart in crude, with a clear message to all short term traders out there: STAY AWAY. I also said that crude will present itself with an excellent buying opportunity in the future. I believe that time is now. Many chartists have recognized the similarity from the 08-09 selloff to the selloff seen in 14-15. It is too obvious to...
1. Bearish candle stick formation on 1h chart 2. KD on 5 min chart (momentum/price divergence) Go short towards missed daily pivot below, maybe even retest of important level of 54.00 (proved several times to be resistance) Target 54+, SL: 57.00
Crude Oil is at the same technical juncture as many Dollar correlated assets. It has been ranging since the start of the year with the Bears desperately trying to make headway to the downside but have been thwarted thus far by Crude Oil Bulls. A few temporary excursions below 44 have resulted in neck snapping whipsaws and currently the technical picture in Crude...
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...
After the previous successful bounce from the PRZ, Crude is back again in the interesting zone. Just a small reminder for the bullish monthly pattern I posted here 3 months ago.
Crude respects daily BBands the best - oil traders are very technical! I would have liked to go long here, but I was really expecting a more aggressive sell. In any case, want to have it for the record that CL will go up from here.
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.
with alternative scenario Global picture Steel in wave (B) of fave 4
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.