Very Short Term Journey in the simplest way possible.
Our journey to Profitland - 47.06, IF 46.60 is passed.
If the green line holds, 48.11 first, then possible 48.55+ (close to median).
Looks like it was just a simple ABC correction turning out to be an expanded flat. If that is the end of the correction the (X) wave in the previous chart is an impulse wave starting a new 5 wave down trend. Looks like the 3rd wave could have already finished. I expect the 5th wave to end around 45.31. Will wait to see how the 4th wave unfolds.
H&S within a H&S. The design is based off symmetry. The purple channel is a potential upper resistance on the way down. The Golden Dashed Line is where the lower bounds of the Right Shoulder could potentially be based off reflection. Happy Trading!
The market has made a new higher highs these days. There is a major resistance at the 51.75 level. But we can wait for a retracement level and then go for a buy. So lets wait and see what the market does in the coming hours. Hoping it can break the major resistance and make a new uptrend again.
We can clearly observe a bearish rising wedge on oil.
Here we have a Wolfe Wave for Crude Oil, CL1!. Price broke the 1-3 trend line but did not quite reach 5'. Therefore, we look at the 1-4 line as a target. The arrow pointing to the 1-4 line does not signify the path price will be taking. It is simply a visual tool. I should also mention, I do not have a stake in Crude Oil. I am comparing the movement of this...
USOIL has been seeing incredible strength after its 26.01 lows earlier this year. It does not show much sign of slowing down and thus it is important to identify possible positions of resistance to its long trend. From the chart I have illustrated 3 levels which are likely to prove some strong resistance. The thicker the line the strong the resistance at each...
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....
The recent rallies in oil have made me reluctant to enter the market in either direction... largely due to the fact that they appear to be happening on falling momentum. Note that with every higher intermediary high, the momentum (as measured by the MACD indicator) isn't able to make new highs. This has lead me to review another possible scenario for the big...
I have my fib drawn different today and also I have been analyzing a bit more before I post here. $44.61 is a very strong support and a possible good entry wait for the confirmation, $44.22 is also a good buy with heavy support at that level as well. NYC open my show the direction of the Market after gap is closed. This also may be a good short term short.