Excellent Crude Oil Short Opportunity. Trail your stops if in profit.
Oil has entered a period of consolidation following a rejection of the 50$ level. Long upper wicks suggest a lack of buying power at this level. I'm looking for a break below the localised wedge (clear on the H1) to confirm downside bias.
CRUDE OIL TESTING RESITANCE LINE. SOON 2 B SHORT
WTI has seen continued resistance on any rallies of the previous weeks. The most recent move to the upside found a cap at the falling trend line, with a solid bear candle following. If we see a move below the EMAs, then this would open the door to the downside, with potential for moves back down into the previous congestion zone around 39$.
Crude is attempting another try to make a new high. But strong resistance is waiting... long term is seems more like another failed new high and a shoot down to the 50% Fib retracement, atleast. But we will need to wait...
Market entry 45.7 Sl: 46.1 TP: 43.5 (Near PP bounce) Technical purposes: - Channel resistance - Divergence in RSI - R1 Weekly Pivots
Based on previous support and resistance levels, I am shorting WTI Crude Oil. Additionally considering that the fundamentals for this commodity have not changed significantly, and we still have over supply. SL = 45.00 TP = 40.00 R/W Ratio = 7.47 Just sharing my view for the next few weeks...
Price has been making lower lows. Fridays candle was an inside bar. A break below the lows of friday will enter us short targeting about 3.5R
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...
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....
CRUDE is expected to sink now. The reason why we feel CRUDE may SINK. * It may SINK and come near 37.61 levels * Stoch RSI (3,3,14,Close) is SINKING. * RSI (14,CLOSE) is SINKING. * CCI (20,CLOSE) is SINKING. Keeping all the above indicators in view along with the chart pattern we expect it to SINK. Our SELL call shall be from SELL BELOW :38.95, SL: 39.29,...
As everybody Know that crude oil is falling and it is upto the world but the charts are different story from the rest. Based on Elliott wave analysis and the unfolded Wave structure ( correlating past & present) and by the rules & guidelines of the same, we can anticipate high probable counts for future and that is where the Wave Principle helps in unwrapping...
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...
35.80 USD: 2.Target (292 Chance) 33.97 USD: 1.Target (109 Chance) 32.88 USD: last Price 32.21 USD: last Support (67 Risk) You can use the support levels as stop-loss price level. And both targets also even as take profit price leves too, if you want. But take care! Think about it - and create your own opinion! It`s your own decision... Change/Risk Ratios...