Personally, I'm leaning towards a trend breakdown because of the RSI has lost it's trend and broken below it. On the other hand, That symmetrical triangle is pretty attractive alternative option to watch.
Cleaned it up a bit tells the story more clearly. Also possible beginning of bullish divergence on rsi and buy AH 3/7/18 crude was in oversold territory imho
The big picture shows continued bullish momentum, despite forming a clear H&S over last few sessions. The lynch pin in this whole situation was the inability to break MY neckline. Although crude does seem to be exhausted I think it had to take the beating today in order to make a run and have a chance at a breakout above 67. I would personally recommend a fairly...
It would appear that the intermediate term trend is going through an ABC correction. Supply Zone exists in the $53.50-$57 range Long Term Price Support exists at $54 50% Fibonacci retracement exists at $54 Measured Move exists at $55 Channel Resistance exists at $62 Long(er) Term Price Resistance exists at $63 Short Term trend bearish I'll go long when I...
Revising my $69-70 target down to $65-66. My Original idea from July 17 - was Crude would reach 69-70 by late Spring early Summer.
After an impressive run in oil, it looks like its time to consolidate. i think the mid 56's look like a nice place to put the next bottom in. should be a nice trade with dwt
See previous post (link below). Would not be surprised to see some correction soon.
Massive money making opportunity in oil, inverse H/S looking to potentially breakout... Buy anything over 50.40 w/ next resistance is at upper 50's I'm day trading/ staying short looking for 49.38 before moving in to a long position.
I decided to go back to the basics and pull in the classic Fib into the image. I see more downside in the near term, but I also see potential for more short squeezes' The market is extremely volatile. Trade with caution
If daily support broke out, more room for downtrend what we could expect according to Wly chart (RSI and MA already crossing down 50) Cautious cos' API today and EIA tomorrow
ETF Trading using simple Supply and Demand strategy. The Downtrend was assumed over when higher highs were made. Now that we have a pullback , it may be time to enter the market. [ ALWAYS use stop losses to protect your account at all times.
Expect it today to break below the trend-line. if it happens, we might see some great downside momentum.
Spent too long flopping around below $50 here as well as broke a volatility contraction pattern to the upside then immediately kicked in the bucket and sank below the funnel level. Short term back near $47
Abnormally larger sell volume in last downturn on the price of oil, followed by significantly lower volume on this rise. Bigger players have been taking their exits, be very cautious with any crude oil longs here..
New bullish channel in play. It's a small chart so not much wiggle room. Oil still making up its mind