For the first time in a long time crude oil is showing some strength. Beyond coming down to the psychological '50' level, crude oil is facing an OPEC meeting next week on Thursday. There is good reason to believe that output will be slowed and traders will likely position themselves ahead of that.
You never want to catch a falling knife unless you have good...
Since the last report, the price pulled back after the 1D Rising Wedge exhausted. Technically the correction on the 1W Channel Up is completed (at 63.50) and already the price has crossed (marginally) the 0.618 Fibonacci retracement level (69.23). 4H has developed a Channel Up (RSI = 61.796, Highs/Lows = 0.6614, B/BP = 1.300, MACD = 0.770) which will serve as the...
Light Crude Oil possibly bearish. Waiting on confirmation if it drops below the ichimoku.
This is the strategy i am using, please do not rely on this chart.
SHS & GAP play
Crude still having a gap in USOIL (the chart) to close.
Timecycle suggest primo february for break of neckline and for the S-H-S to pan out.
We are neutral after today's sell off and see a bounce here. Next trade will be at break of neckline.
More free charts on WALLStScalper.com/Blog including chart of todays breakdown in SP500
Best to you...
