No bounce for crude so it will go on the watch list. The next area of support is the 91.50 - 92.25 area. Don't try to catch a falling knife. Crude can rip your head off and drain your account if your not careful. Wait for the knife to stick in the ground. We will watch the next support area.
We are trying to hold that trend line on some early sell off this AM. We will be a buyer above the 97.20 area. We will look to a 60 Min chart to enter and define our stops. Our first target is 99.00.
We are back inside the weekly trendline. This is a major line and I expect some fighting in here before we get a definitive direction. If you are long from support keep stops tight. Targets would be 99.00 - 99.75 area. FYI...if you are trading the SEP contract you should roll into OCT on Monday. We do not have a position...we missed it (Bummer). Have a...
After comments from our Daily chart of Crude we decided to post a weekly chart. Note how Crude has been winding since mid 2011. While the swings can make for good trades be sure to consult a higher time frame chart in order to get a clear picture. Crude has slammed into it's support...will it bounce or keep sliding. We will start watching lower time frames...
We missed it! After a nice head and shoulders pattern Crude broke the neck line and started consolidating for another leg down. We are not in this trade. We took this off our radar screen and unfortunately there were a couple good trades. We don't chase trades so we will wait. Take a look at a weekly crude chart. While it is moving...we are in the middle of...
First for the long term we've has an up trend from the start of this year. Then it started to retrace and it broke through 38.2 with a gap. Now it has gone sideways in 50-61.8% zone and it has a great confluence with a previous support from April which also was a 61.8 retracement. In the shorter time frame (4H) we can see a head and shoulder pattern forming -...
buy crude oil @ 97.15 with the stop of 96.40 and target 98.30 then 99.20 these technical levels has been created on my professional charting system so kindly ignore this chart and follow the level.cause i don't find photo attachment facility on this website.
We have a FIB 61,8% Level Rejection here and this could be worth to think about a reversal in the upcoming time. This is technical a early stage for thinking about a long position. If a second Bullish Divergence structures on RSI it would be a buy signal for me. I am Waiting for the MACD to show a clear Bullish Divergence. At the moment it shows just a half one.
This is one of the cleanest H&S patterns I've seen in some time. Price is currently above the neckline which puts my systematic trading approach in the Long camp up until COG is beheaded. Target price for either scenario, Long/Short of the H&S pattern is shown by the colored boxes to the right of the last close. The Short side has additional support show by...
A few days ago WTI moved back to fast to his former resistance (107.5) , now he is temporizing before to come back to 107.5 in the next days/weeks
Building from the last chart; two possibiities remain open... A bearish contracting triangle that will extend the C wave and take crude below $100 and probably even more... or then an alternate count would be bullish possibility of a butterfly forming at 104.54-105.39; which will also mean the completion on the 5 wave
Crude oil tested a critical support level on the daily chart last session. This market has experienced such an aggressive sell off, it has forced price to accelerate away from it's mean value - leaving that mean to price gap. Generally when these gaps occur, the market likes to 'sling back' and fill the gap between mean and price which is knows as the 'elastic...
After Lybia is now able to export more oil (totally +500.000 Barrels) it will show an influence on the Oil price significantly. Next Targets: 104.25 103.65 102.35 Resistance broke and this is free way for Oil to fall back after the rise during Iraq crisis.
After break of key resistance at 105.00 I would not consider any fall-backs under that level as long as the Iraq crisis lasts. Two possible scenarios: 1. it will hold a neutral sideways market 2. it will break through 108/109/110 for more upwards movement
Due to the issues in the middle east the worlds oil prices are gaining at a rapid pace. In the event the city of Baghdad falls or the southern territories fall the surge in American Oil will be explosive. The stock currently is in a out mode based off the upper indicators which I will not get into however the price which will continually rise of 38.853 and better...
Target price: 100.10$ Stop loss: 103.05$ Since 1 january 2014 we can see traingle saw. Since then, each new low is higher than previous, same with highs. Traingle will be broken but for now , ill short it.
crude oil long term deltoid formation
Crude Oil is still on its way to go down to 100.40 -101.00 .If that touches and bounces off there we could see the price to move to $108.00 or even higher within couple of months or even sooner. Every single run up within the ascending triangle has it's own retracement bounce off lvl. The 1st big rally started in the beginning of the January 2014 and ended...