CRUDE OIL WTI WEEKLY Target has been reached and finally its come! So now... we are currently waiting for a clear breakout or bounce by waiting for the WEEKLY candle to close on AUGUST. 5TH.2016! Although it may break below , it doesnt necessarily mean it'll continue to drop UNLESS.... it closes below on the weekly! Because if you look at the previous shoulder,...
We have a very clear cut case for a short in oil (and a long in USDCAD here). Entry at market is fine, risk half initially and add on pullbacks if it happens to reach a full size position. Stop loss above April's high, and aim for 19.47 here. Check out my updated track record here: pastebin.com If interested in my real time whatsapp alerts and swing trading...
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.
Just a quick update following on from my last "big picture" chart posted about 2 weeks back. Oil appears to be following the script. Short term I can see an intermediary low forming around 41.07 with a potential for a 300 pip rally towards 43 before the sell off continues towards 38.
CRUDE OIL WTI SHORT There been a major consolidation between the 2 lines drawn there at 49.66 & 44.33, It's printed a bearish engulfing 2 weeks ago but still managed to consolidate at the other S/R, so what in order to short it, the candle MUST close below the 44.33 mark. TP would be at the next S/R which is 39.85. IF it prints a BULLISH ENGULFING, then we may...
After the dust from roll over settled and evaluating the new front month contract CLU2016 i got this idea for a long.
No follow through on drop, even after retesting broken TL from the back resulted in squeezed swings, that left the downsloping median set without reaching it's median. Now the last of the swings got zoomed and is currently being retested. A long postion shooting for the median seems like a good idea to me here. Sl underneath last swing.
HI All, This is my first post in TradingView. A complete hypothetical view from my side. Here is my 4hr TF chart with possible Cypher Pattern. I am expecting this current upside of crude will last till $4940 to $49.90. And it would fall back(retrace) to $44.3 to $44.80 zone. We could it for short position too with $51.5 but it would be a bit risky. Obviously it...
Just Technicals - 1- Lower Top, Lower Bottom 2- Bearish Flag 3 - Near Trailing MA 4 - Can Magnet to 41.90 before Taking Correction
Technicals are showing selloff in crude for the target of $44, and probably for $39
1. SPX 500 is making new highs as expected earlier, but this is not sustainable, if Central Banks will not give a rate cut or further QE then markets will undo all the gains. 2. My Sell patterns have started to show up in the charts. 3. SPX is making third mountain in weekly charts. 4. Crude is looking to go around $40 and Below. 5. Volume is not showing any...
Crude did not roll over and die after breaking the uptrend. A BIG emotional candle after a disappointing eia report broke the trendline dating back to january, but what puzzles me is why it did not break down further after the retest of that line from the back. Maybe they are anticipating the BIG DRAW eia report on wednesday and therefore hesitant? Or is this...
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...