Crude Oil is signaling a possible reversal. We have a falling wedge, a 5-wave pattern and bullish indicators (with weekly divergence). Therefore everything is signaling an uptrend. The only problem is that we have a lot of resistances overhead, which might make the uptrend either choppy or unsuccesful. However, everything in the chart is screaming "UP" Weekly...
CrudeOil has either bottomed out or is bottoming out with one more down move probably before we see a reversal.. CrudeOil is good opportunity to buy when it make one more low or gives a break out of the downtrend channel as show on the chart.. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email:...
My full illustration of why I expect there is a major low about to form in the oil markets.
Potential bullish movement due to the followings :- 1-Valid Three drives pattern. 2-Fib retracement 0.886 for AB leg. 3-Fib extension 1.618 For BCLeg.
Crude is consolidating nicely and setting up an opportunity. The questions remains...can she test the lows again. If the down side breaks be careful or a fake out. False breaks will be bought fast to trap the weak shorts. Use triggers and stops to protect.
CRUDE: CRUDE has closed @ 30.98 and is expected to lay low. Sell below 30.27 SL @ 30.75 Tgt 01 @ 28.79 Tgt 02 @ 28.26
increase of stocks - new record, all time high 356 635 thousand barrels – September 26, 2014, 494 920 thousand barrels – January 26, 2016 oil production is still high despite of decreasing rig counts decrease of managed money positions - 184 317 – October 13, 2015, 69 755 – January 12, 2016, 110 432 – January 26, 2016 Murrey math lines: monthly chart 1/8 –...
wahit the breack to go short. Is possible to see the 25$ and maybe after that, a correction to 31$
Crude opened and blew through our trigger zone. Just as we suspected, crude may not be done on the down side...but it's getting close. Bottoms (and tops) take time to form so we will waiting until we see a signal forming. Protect your powder!!!!
Crude had a nice break from a small consolidation pattern last week. There were rumors flying which helped the pop. We are seeking a trigger on a pullback to the Trigger Zone. This will be a small position (Tier 1) as we know Crude could roll very quickly. If we are able to get long we be keeping a tight leash on this trade. NO TRIGGER, NO TRADE!
I think very important point is 28.00, could be tried up to that point sell and after that point can be tried buy.
In January 2016 our view was short. We were of the view that any day closing bellow 37.93$ would crash the market to 27.55$. As expected on 04 January 2016 the market closed @ 36.86$ way below 37.93$. and from then on Crude was in continuous flow down side. Crude made a low of 27.53$ just 2 cents lower than our expected low 27.55$. From then there is a bounce as...
$CL_F Probabilities of Price.....Laying out a Premise and waiting for "Price Action" to speak.
Crude is forming reversal patterns on daily charts since $31 that might take it to $45, now it has also started to show signs on weekly charts. USD/CAD showing a downtrend now, it has inverse relationship with Crude. Higher then Average volumes on Demand Day after 4 months is also a good indication. Closing above $31 this week will be a good indication.
Crude had a nice bonce last week but we must warn you...this doesn't mean the bottom is in. It takes time to form a bottom and it could take weeks to form. We could see Crude become volatile in the weeks ahead so be patient. There will be some REALLY GOOD trades coming in Crude. Keep on your watch list.
Crude faces major resistance at 33.10. Good entry for short there.
After bullish momentum yesterday and rupture of the USD29,80 resistance, oil has room for a rebound to the USD35 and USD38 leves. There is a buy signal in the RSI and will be soon at the MACD, the latter presents divergence with the price. These three indicators increase the likelihood of upward movement. The expectation of falling prices to USD20 has possibly...