Oil attempted to reject the Pennant yestarday, but withdrew to around its EMAs, which it has failed to breach. Breaching its EMAs will send it back to the upper side of the Pennant, with 46.27 as an objective. Failing to cut through its EMAs, will prove that the rejection scenario is valid, and will send Oil south to 40.26, with 42.71 as a primary objective. ...
The dynamics of crude are changing. Crude is getting close to popping and now that this flag has formed we are liking the upside more and more. We are monitoring this around the clock and will drop down to a lower time frame and look for triggers. Watch fake breaks to either side. Also, a hard break to the upside it could spell trouble for the equities.
Here we saw the market in a down trend making lower highs which was violated when price broke out of the trend line and a higher high was formed. Price pulled back to the trend line which now seems to of turned into support and we also see there is a demand zone at the same point. - Demand zone - resistance turned support - engulfing candle - new up trend...
After a crazy week in the markets crude attempted a breakout. Now we are back at the scene of the crime. It's interesting that we see this pull back after Goldman Sachs releases their long term Crude forecast. Very fishy. Our eyes are on the 43 - 43.50 area. There are a lot of stops below this area and someone is fishing for them. If they get blown out we...
We have pulled our buy orders off the table with crude. We have seen 4 straight days of up and down so we will let crude trade on Monday before accessing. However, crude is consolidating which means another move will happen soon. OPEC says prices will continue to stay low until the beginning of the year. Will they be right or will the bulls force the issue? ...
We are still watching crude for an entry long. We would like to see price re-visit the trigger zone and touch the lower flag. We are being CAUTIOUS with crude. This beast can blow through an area quickly so MAKE SURE IF YOU ARE TRADING CRUDE YOU ARE USING A TRIGGER! Define your risk and be good with it.
Would of, should of, could of...That was another nice move off the trigger area but as we mentioned before it wasn't deep enough into our zone. Now crude was rejected at the upper flag so we expect price to fall into the range and hopefully test the lower flag in our zone. Patience is needed! It's on our watch list.
After a rocket off the bottom and a nice trade, Crude needs a rest. Is the bottom in? We don't so...soon though. We feel crude could make another attempt at a bottom to shake out the weak longs. However, if crude wants more upside from here we will need to see some consolidation. Above the $47 and we could see an accelerated squeeze. Crude is on our daily...
Well...that was quick. Off the Descending triangle we were able to take advantage of a very quick move and ring the bell on a nice winner. Lessons for all: Define your trade - Wait for it to happen - manage it as defined - control emotions. We are flat and will see how the pullbacks look.
Crude moved fast and furious so we took some off at 42.04 and pulled stops to our entry level. We weren't expecting this quick of a move so we had to adjust. That is trading...noting is static. It's a free trade and we will trail the stop until we see target #2 or get taken out.
We are still waiting. As Crude continues to drop we have to move our entry down. A descending channel break to the upside should see a nice pop. No Trigger, No Trade! Be patient with this one. Crude can clean out your account quickly.
Crude is getting real ugly. This product will test you. While there is no doubt that oil in the 30"s is attractive it would be painful to buy on the way down. Nobody...and we mean nobody knows how far crude will go. However, we will watch the Descending Channel for an upside break.
Crude is in a free fall and shouldn't blindly be bought. We are see a descending wedge forming, which is one of our favorite patterns. Will will look at this trade as a "POP" instead of a position. A break of the wedge and we should see a quick move to the 21 day EMA. If we can get some MoMo then possibly higher.
**************** Full Report Below Please Read****************** Over the last 30 years Crude oil consumption has steadily increased worldwide. Each of the last 30 years has seen an average increase in consumption of 1.57%. Firstly it must be made clear that no matter the current state of oil supply, it is a finite resource. There is certainty that in the future,...
Last time I mentioned Crude was when it bounced from the Monthly pattern I've posted here about more than half a year ago. Now Crude is about to reach 40$ again and maybe create a monthly double bottom inside the pattern's PRZ. The longer term target levels are shown in the chart. If 40$ won't hold as support, the price could try and re-test the X point level...
Oil is close to this year's lows 44 $ -45 $ per barrel, which should in the near future to limit further declines in prices. Nevertheless, you should remember not only the production oversupply by the OPEC area countries, which to a large extent, does not allow for the development of correction, or larger increases. Yesterday the US Department of Energy gave...
TSLA is an interesting stock right now. The trend is largely up and I also expect crude oil to go up soon, with GBPUSD and other correlated pairs, so this could favor a rally here. Earnings shock might wreak havoc though, so to be safe I'd wait for the shock event to go long or short. Keep close watch of the key hidden levels indicators s/r levels, and the time at...
The downtrend has been corrective, based on the sluggish pace and the internal structure. We didn't get the selloff I expected. Enter long now, stop under the lows. Risking 2.5% on it, closing 75% once I match the distance to the stop. Good luck, Ivan.