CHART TIMEFRAME : H4 INDICATORS: EMA50 & EMA100 CHART PATTERNS: Double Bottom and Potential Bearish Harmonic Pattern to be completed at D Leg. - Fibonacci 88.60 of XA - NOTES: 63.00 Neckline of the DB AREA OF ENTRY: Current Level and Possible Retracement EMA50 Support. Details as described on the chart. DISCLAIMER: This is a technical analysis study, not...
Fundamentals of today: Crude oil prices gained in Asia On Wednesday as industry estimates on U.S. inventories threw up an unexpected drop in supplies. On the New York Mercantile Exchange crude futures for November delivery rose 0.39% to $52.08, while on London’s Intercontinental Exchange, Brent gained 0.17% to $58.02 a barrel. U.S. crude oil inventories fell by...
After the recent decline of the Crude oil prices (Brent and US Oil/WTI), several people called to short it... I guess they missed this! I expect more bulls to come. Would it however be able to reach the monthly resistance at 55.00 area?
During the drop of the prices of oil after the OPEC meeting, several Oil ministers were not worried of the decline of oil prices as they say it is normal every after meeting and that it would recover. Is this is? Despite the formation of a fakey bar, the prices are still below the 8, 21 EMAs... not mentioning below the 200 SMA as well.
Crude Oil is trying its 2nd attempt to break the resistance zone. There are 3 possibilities here: 1. If it break the resistance zone, wait for PB to the resistance zone and a bullish signal to long. 2. Eventually, it might form consolidation near the resistance zone. If breakout, can directly long 3. If there are 2-3 "2 BARS REVERSAL" to trigger the BEARISH...
If the crude oil price continues with the trend, there is high chance that it will manage to break the resistance zone. After breaking, wait for pull back and long. It will be a 1:3 risk to reward trade.
hi Readers, The Chart deals with weekly time Frame As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed....
Resuming from previous Crude oil Post in the blog, check it here... Obviously yes the bottom is in the visible limits We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within...
Resuming from previous Crude oil Post in the blog, check it from what's happening section... We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within which the waves ABC have...
CRUDE is expected to rise now. There are many reason why we feel it may rise. 01. It has bounced back from quarterly sell target 02 level. 02. Bullish Engulfing pattern in daily Chart. 03. To rise and clear quarterly targets it had to come down to gain momentum for up move. 04. Stoch RSI (3,3,14,Close) states it may rise. 05. RSI(14,CLOSE) Is also of the...