Crude Oil is signaling a possible reversal. We have a falling wedge, a 5-wave pattern and bullish indicators (with weekly divergence). Therefore everything is signaling an uptrend. The only problem is that we have a lot of resistances overhead, which might make the uptrend either choppy or unsuccesful. However, everything in the chart is screaming "UP" Weekly...
Look forward for further trend movement. Log scaled chart. *** WTI CRUDE OIL OUTLOOK FOR Q1 2016Y
USOIL caped in a triangle for now. Overall it's trading sideways. ways to trade Crude Oil: 1.) Trade the triangle formation with tight s/l above the highs / lows 2.) Wait for a breakout of the triangle with a s/l below the breakout in case it's a fake out. Overall we could go a bit higher but as long as the OPEC is not cutting their oil production don't...
There are a number of ways this trade could play out: 1. Triangle and long-term resistance breaks at touch point 7 of the symmetrical triangle. Would place an initial profit target at $34.80 and then at $38, and if this target was reached I would consider holding this position for a prolonged period of time. 2. Triangle breaks at touch point 6 to move into a...
My illustration of why I believe we are about to see a major buying opportunity for oil.
Potential bullish movement due to the followings :- 1-Valid Three drives pattern. 2-Fib retracement 0.886 for AB leg. 3-Fib extension 1.618 For BCLeg.
Crude is consolidating nicely and setting up an opportunity. The questions remains...can she test the lows again. If the down side breaks be careful or a fake out. False breaks will be bought fast to trap the weak shorts. Use triggers and stops to protect.
Down trend into beautiful Head and Shoulder pattern. This is an updated version of the oil H&S chart I posted last week. This could be an amazing short if it breaks the neckline this week.
CRUDE: CRUDE has closed @ 30.98 and is expected to lay low. Sell below 30.27 SL @ 30.75 Tgt 01 @ 28.79 Tgt 02 @ 28.26
The oil chart has had bearish overtones for a while now, and despite feeble attempts by the bulls to drive price above the highest volume node at 46.24, it seems like bears are winning in this juncture. I'd place a couple of entries here, looking to capture the downside move. It's possible, once the 2nd order is triggered, that we get a 55% chance of hitting...
Technicals Here we have a Gartely pattern (shaded grey) that suggests a mid-term rebound. From the blue Gartely pattern, we can expect this rebound to last into the $36/37 region, where we can then short the market due to this bearish pattern. Fundamentals The oil market is in quite a confused state at the moment. Supply and demand dynamics suggest no return...
This looks like a head and shoulder formation. Stop: Above the right shoulder. Targets: First at the neckline. Second at $25 $25 is the next strong support on the way down. It holds back in 2003 and two times as a resistance in 1996.
Crude oil is the center of trading universe right now. Equities are dancing along the tune of oil. In every up or down moves, they are currently joined by the hips ! Our last crude oil trade was right on the target. Today we are looking to trade it from long side leaning against 32 and 31.50 as support. Even thought yesterday's inventory data came in as bearish...
increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016 oil production is still high despite of decreasing rig counts decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016 Murrey math lines: monthly chart 1/8 –...
CADJPY has been setting up to become a great selling opportunity on a macro-standpoint for the following reasons: I was looking for a drop well-before today's action: twitter.com twitter.com twitter.com twitter.com Fundamentals in a nutshell: CAD is highly correlated with WTI crudeoil, both on a fundamental and technical level. There still is no tangible...
Guys..... Crude oil market fell significantly during the course of the session on Monday, slicing through the $32 level. Because of this, market look as is ready to go lower. Below the level $ 30, we feel that the market will more than likely trying to reach towards the $28 level. Technically market is looking weak on chart and prices is trading below the...