Have annotated the current decline in CL1 with Gann angles and arcs. Usually, the first good support during a drop is often seen at the third double arc and this is found to be the case in Crude chart. Hence expect this low near $53-54 to hold for some time. Following a bounce at the third arc, prices generally show a tendency to move back towards the 1x1 angle...
Crude has taken a beating to levels that surprised many, even those who were behind it. These fibonacci levels have proved useful in the past, we are approaching the 786 support level and it will be interesting to see if this nasty sell off is finally reaching a bottom. If not, short CL1! when it rallies into the 8 EMA
This chart shows USOIL, West Texas Intermediate Crude Oil futures, on a monthly timeframe. Plotted on the chart are our SCMR Dynamic Levels™, which dynamically plot support / resistance zones and are accurate at finding targets. This indicator is available in the TradingView App store under Analysis Suite - SCMR Trends. The BIG QUESTION: Is crude bottoming...
Looking for a rebound, likely see an end of day risk sell-off. SL kept tight. Entry: 1206.97 SL: 1203.50 TP: 1216
I THINK WE ARE GOING TO SEE THE 50$ NEXT MONTH ! & MAYBE LOWER ... LETS WAIT AND SEE
Crude is approaching a major support area $48-$50. We are very interested in this area. WE WILL NOT have a resting order in the area. We will watch the level first then find a shorter time frame trigger to get long for a bounce. Keep in mind we are not anticipating a major bounce. The way things are going at OPEC we expect price to stay fairly low for the...
Oil may bounce as it just hit a minor weekly support zone but the chart shows that the upside potential is very limited. 65-70$ is going to be a strong resistance with the 61.8 Fib (which will act as resistance once it broke down) and a weekly downtrend line. A reach to the 78.6 here (near 50$) maybe inevitable. A close above 60$ with a strong 4H or daily...
The US dollar weakens almost one percent on growing uncertainty following worldwide equity sell-offs. The weaker dollar is allowing crude to rebound from below $63 per barrel, but spreads on energy debt have ballooned to 880 bps, an all-time new high as traders deem the high-yielding debt extremely risky. The VIX spikes over 16, creating the worst two-day span in...
Downtrend is strong and alive. 61.8 Fibonacci retracement gave us a nice reaction. Other lows could certainly be seen, but a shot against this minimum (when a pullback will appear) with a proper r/r seems attractive to me. This is not a trade recommendation.
It looks pretty easy to trade crude to the downside as its still in a strong downtrend and we are several months away from the seasonal long in Feb. Price either goes back up to fair value or the bottom edge.
I have this theory that the beginning of 2014 is deja vu of 2008. We have global disinflation, with deflationary threats in the EZ. This has propped up the dollar, causing commodity prices (particularly PMs and oil) to tank. In 2007, leading into 2008, the general beat on Wall Street was that equities wouldn't decline. "So bullish it hurts," as I seen on one CNBC...
The bears were hunting for any bulls poking their heads out of the sand and by howdy did they hammer them. Crude still cannot make a break to the upside. Fridays price action tells us that there could be more downside. While crude is still weak we are not short. We will wait for better parameters.
I am obsessed about shorting WTI Crude OIL ,. details on the chart
Waiting to short crude oil on this formation.
Crude got a much need bonce on Friday after making new low in the globex session. While the bounce is nice don't expect crude to go straight up. We will look for another move lower from the upper trend line (red). We will wait for a lower time frame trigger. This trade will have great risk/reward. See this video for more: youtu.be
Long Crude OIL WTI to 75.18 (Daily Pivot)
Hi traders! USOil is getting close to a zone that I am watching very closely, I am looking at the 0.50% fib 73.71 and the lower line of the pitch-fork 71.43. Keep this 2 levels in mind and lets see if we can react. On the other hand, everyone is talking about 75.00. Personally, I dont like to trade into levels that everyone is talking about! Maybe I am wrong, but...