Crude is testing the lower channel area. We are watching this closely. We want to see a clean break of the lower zone before look for trigger zones. Keep her on your watch list.
We are avoiding Crude. It's in the middle of the range and there is NO edge. It's coin flip in this area. We will revisit when she perks up.
Crude made a quick move and got new longs stuck which fueled the sell off. We triggered long this morning and got stopped for 50 ticks which is a win in our book. We learned long ago that a stop is the beginning of a story. This story is telling us that there may be more downside. We are technically back in the consolidation area and we are sitting on our...
As we mentioned on Friday Crude has acted well. We waited for this trade and it was a nice gift. WE ENCOURAGE you to review our chart setups. You will notice we don't take trades everyday. Trading is about stalking your trades not forcing trades. The BIG money is made on BIG moves. There will be plenty of moves throughout the year so be patient for them. ...
#2 is in the bag and we will push this trade as long a we can. Ideally we want to see the 200 Day EMA at around 56. This is a long way away but if this move is for real we should be able to stay with the trade. As price moves we will adjust stops to follow. We like what we see with the whole energy complex. Stay tuned.
More follow through for crude today. We pulled stops up a bit to lock in more profits. Price kissed the August highs and pulled back a bit. However, crude is still strong and is being supported by the energy sector. We expect price to blow through the August highs an continue on to the 52 - 53 area.
And the long side is the winner. Crude triggered a few minutes after the RTH open this morning. If you missed this opportunity you were sleeping. There was 25 days of prep time. She moved far enough to give us our first target. Stops are now at entry at $46.71. Tomorrow we have the Petroleum report so we don't want to puke out a good trade. We are hoping...
WEEKLY VIEW of Crude. We have been hearing a lot of predictions about crude and we have even stated that we like the upside...but if you take a close look at the weekly chart it illustrates how crude tested each side of it's range and then closed in the middle for 5 straight weeks. Lots of indecision. The weekly pattern screams more upside but the indecision...
Two inside days means we are about ready to rock with Crude. This is a clean flag and we still like the upside but BE MINDFUL THAT CRUDE can go either way. There are a lot of factors at work with oil. Don't be a hero and guess. Wait for the market to tip it's hat and look for a trigger.
Crude is getting closer. We are still monitoring around the clock and will drop down to a lower time frame and look for triggers. We still like the upside but with crude you never know. When she breaks she will most likely move quickly and far. Keep on your watch list.
After a crazy week in the markets crude attempted a breakout. Now we are back at the scene of the crime. It's interesting that we see this pull back after Goldman Sachs releases their long term Crude forecast. Very fishy. Our eyes are on the 43 - 43.50 area. There are a lot of stops below this area and someone is fishing for them. If they get blown out we...
Well I was about 2 weeks early but the drop in oil has stopped (so far) above the previous long term low I labeled AA on the weekly long term chart of 2 weeks ago.(see link). What I thought was the bottom of the current drop turned out to be a classic 5 wave expanding triangle. I find expanding triangles often tough to recognize early as the previous highs and...
After waiting...we are long Crude (WTI). We like the potential of this trade and are looking for a larger than normal first target. We will keep this on a tight leash. In lieu of shorter targets we will move our stops up as we gain more in the trade.
Oil is close to this year's lows 44 $ -45 $ per barrel, which should in the near future to limit further declines in prices. Nevertheless, you should remember not only the production oversupply by the OPEC area countries, which to a large extent, does not allow for the development of correction, or larger increases. Yesterday the US Department of Energy gave...
Why? TA: -RSI Bearish Divergence seen clearly on daily -MACD, Stoch(blue on PTS) Divergence too -CCI going down, bearish -ADX is showing lack of bull trend strength, bear trend rising FA: -EURO WILL GO TO PARITY, very strong dollar coming up in june, see EU related post -Inventory data too negative, will now likely shoot up, Api should show from -5.2 to...
Dear traders, the most of us were hoping the oil price would drop forever, well at least those of us who drive a car or have an oil based central heating. But as the commodity market is no exception and no one-way system it had to stop at one point. So it did. The oil price is rising again and the question now is: Was that it? No more cheap fuel at the gas...
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI
CL is range bound for now and could go sideways for a few week. We are still trading inside the monthly trend line and we will favor the upside for now. Watch more CL commentary: youtu.be