After Lybia is now able to export more oil (totally +500.000 Barrels) it will show an influence on the Oil price significantly. Next Targets: 104.25 103.65 102.35 Resistance broke and this is free way for Oil to fall back after the rise during Iraq crisis.
After break of key resistance at 105.00 I would not consider any fall-backs under that level as long as the Iraq crisis lasts. Two possible scenarios: 1. it will hold a neutral sideways market 2. it will break through 108/109/110 for more upwards movement
Due to the issues in the middle east the worlds oil prices are gaining at a rapid pace. In the event the city of Baghdad falls or the southern territories fall the surge in American Oil will be explosive. The stock currently is in a out mode based off the upper indicators which I will not get into however the price which will continually rise of 38.853 and better...
Sort of Symmetrical Triangle formation but more Ascending Triangle rather than Symmetrical can be seen on Crude Oil Daily chart. Anyway, I really like price movements within any kind of triangles until it gets really tight and hot, and when it gets broken it's another opportunity where we want to be placing our orders, right? My prediction is a short term...
Crude has kept falling and has blinked a sell signal. On this bounce we will look for a sell the area around 100.40 - 101. We will wait for a short time frame trigger for entry. All stops are based off short term triggers. Targets are defined. REMEMBER...the weekly chart is coiling hard so it could get choppy. Be prepared.
I feel at this point of time, Crude is being lead by the Bears and could break an important resistance zone of (100.50 - 100.40 ) & (100.15 - 100.00 ). If it does break this said zone, we would most probably see 99.00 levels and then I feel that the Bulls will take it up to 106 levels after that in the long run. So for the short term, I will go short after the...
Yesterday WTI Crude Oil (/CLM4) completed an MACD divergence crossover on the DAILY chart. This signals a start of an intermediate downtrend (Less than 1 Month) for the Oil Futures. Trade Idea: SHORT /CLM4 at current prices and add more up to $103.45. Stop Loss is at a break of new highs at $104.20. Profit Target is $98 to $96. If you like trading Options,...
We have resistance at 105 and upward sloping support. This converging levels will pinch the price and we should expect a spike up or down in the upcoming day or so. I have a bias for taking a sell position due to supply news and geo political events. 1. Increased production with Russia has recently begun producing fuel from the arctic and made its first...
Here is a really nice example of the BoT in action. Price had been basing through the overnight session as a wide double bottom was confirmed through the pre-pit open. That bottom setup long ideas and sure enough the BoT came alive when prices corrected to 103.26. I watched price action closely and was very fortunate to act when given the opportunity (wtg Brian). ...
After declining in 5 waves in the start of march month, it has now corrected the delince in 7 waves to the upside where wave w has reached equal legs to wave y. The market needs to take out wave x low at 98.84 to confirm that a top is in place. As 105.20 high remains in tact, look for new lows below 97.3. You can follow all my demo FX trades at...
This was a great move on crude and now we look to establish a position on an pullback to our "Buy Zone". The WEEKLY is setting up for a large move.