In my last chart I pointed out a point of interest and possible long entry. It seems price has indeed bounced and is now headed north. The median on this hourly chart is a high probability target for me now.
Crude Oil was saved on Friday soaring over $1 to trade at 44.22 while Brent oil saw a gain of $1.18 soaring to 46.63. Both benchmarks closed the week with significant losses down by 7% each. However, Monday morning saw volatile trading action despite the US markets on holiday. Crude oil soar 4.37% trading at $46.03 while Brent oil is trading at $48.82 up 4.99%....
Technically we are still in an uptrend but candles this big are hard to ignore. It looks like the deliberate august run up just turned into a massacre. However i have found an interesting area to watch for possible long entry, or at least for a bump to re enter short.
Global news can say whatever you want . It is not physical oil-2.80% . This are futures . and future's price is constituted by those who trade these futures - banks. There are 3 major traders in the market of oil-2.80% - JPMorgan , Goldman Sachs, Citi, in their turn they are getting money from the Federal Reserve System . And the Federal Reserve System has only...
Buy crude in dips till 40.55 levels. Cmp of crude 41.75. we bullish in the crude for the above tgt of 50 and much more in days ahead. Avoid shorts and keep buying in dips till the blue line and expected tgt is the red ling
Market entry 45.7 Sl: 46.1 TP: 43.5 (Near PP bounce) Technical purposes: - Channel resistance - Divergence in RSI - R1 Weekly Pivots
Global news can say whatever you want . It is not physical oil . This are futures . and future's price is constituted by those who trade these futures - banks. There are 3 major traders in the market of oil - JPMorgan , Goldman Sachs, Citi, in their turn they are getting money from the Federal Reserve System . And the Federal Reserve System has only two targets -...
Previous price action suggests that at the 42.69 and beyond a reversal is likely given that at these prior levels we saw price congestion. Shorts at exhausted price action to the upside at this level is advised for entry.
Short term analysis on crude oil. lets see how it plays out!
Crude is in a critical junction. It will take some time for oil to develop a good support line before it can go up. Think it is a very good time ti buy and hold it for several months to gain some good profit. Once it comes out from the triangle pattern and the RED COTTED lines and BLUE SOLID line RESISTANCEs it will be a gold for BULL Chasers.
The red line is a historical resistance line. The green line is the new buy or support line. CRUDE is in a position to buy and hold for some long term. May be till end of the year or even may be early next year and before 2017 summer comes or even during spring 2017 may sell.
Vertical big bad scary red candle upon eia. Broke both TL and Wedge, which we are currently crawling back into. Now, i am taking a risky position here (falling knives not meant to be caught). But i am counting on profit taking into weekend and some realism plus this upsloping median set which 'cuts' very nicely. Not risking much here just small portion of this...
We are still following the downsloper but coming up on three major supports: the uptrendline from the rally going back to january, the lower TL of the big falling wedge and the horizontal support off the 45.80 area). Also price action is becoming wedge-like and squishy. If we bounce back and retest i might become a buyer here. Prerequisite would be a zoom and...
After reaching the median price can continue or reverse. I will monitor carefully to see if i can enter with favorable position and R2R
we are following a downsloping median set with a median parallel to earlier mentioned mult pivot line (which got zoomed friday and is due for a retest). Because we are following the downsloper nicely i would move stop to BE and adjust target for downsloping angle of target line
Overview: The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the...