Expecting some sideways before a move up into the 78.50 region and a pull back to the levels shown .
Aside from the confluences I have documented , this plan also correlates well with my USD outlook .
I will wait for the short and have alerts set but there is also a long from around 75.20ish if you wanted to take the move up beforehand.
Of course this...
Technical bear flag on $CL. MACD looking to cross and I suspect a retrace and consolidation within the 80.76 to 80.33 support zone until it rejoins the short term trend.
Omicron affect being not a severe and economies starting to return to normal will drive the increase in oil consumption.
I suspect it will go higher. Open interest in WTI100 calls have increased...
The chart give you all details of ELLIOT wave count for NYMEX light sweet crude futures.
I noticed that his commodity recovered in 'V' shape from ABYSS(3rd of3of wave5) and erased all its losses to $60
But this recovery has one more test for final wave C5v, I assume that this will finish nextmonth (april)for 0.618 times of c5i at $46
comments are welcome
Wait for the pullback down to the orange box for a long entry
The support shown has confluence with the 100EMA, .618 Fib pull
from the last swing high and the bottom of a respected channel .
Expecting a bounce in the area shown but please be aware of
the numbers due today and tommorow .
The American petroleum Institute on crude oil stock levels
as well as...
currently in 15m noted strong bullish but the look like the trend about to settled
can try to enter at 40.95 cut loss at 41.10 with a target price at 40.65 for short term
WTI Nymex Crude Weekly Chart
WTI is forming a classical Pitch-fork pattern on Weekly chart.
At present the commodity is trading near to Pitch-fork support zone.
Risk reward is favorable on long side.
For educational purpose.
Risk appetite reverses on trade escalation, again TRADE WAR ESCALATION , not because of the FED and its interest rates. However, we "the old traders" are keen on Jackson Hole speech. Now, just keep in mind the consumer sector is the hero of the U.S economy but with trade war in front of us, prices will rise and finally impact the consumer sector. What does it...
Crude oil price rally looks exhausting on 4 hourly charts but selling not suggested need to buy on dips.
As multiple on higher time frame commodity still have space to move till $50.
If you have been following me, I posted a chart for crude oil few weeks back for a shot position and it has been doing exactly
the same after i posted that chart. It has been turning out even better than i anticipated and quicker for that matter.
We can see further down fall till 61/60 targets at least, where I would suggest to exit your positions.
I will soon...
B&B Pattern. Trade setup with Stop Buy position (EP) at 63.50, Stop Loss (SL) at 62.50 and Take Profit (TP) at 64.30
Money Management
I have 17,000 USD in my portfolio. I can lose 10% of the port which is 1700 USD.
Position Sizing
1 Tick = $1000
1 Contract size need IM = $2,310 (I can open not more than $17,000 / $2,310 = 7.35 Cons)
It is 1 Tick from EP to...
Crude oil had a crazy rally last year and was one of the most promising commodities and is still a performer in January 2018
along with other commodities such as GOLD and Silver. However there seems to be some resistance up ahead for WTI crude oil
around the $67 dollar mark and by the looks of it, it can be a good time to short. Yes! i do believe Crude oil is...
Bounce-a-thon
You can wait for the 50.13 resistance to break to go long
or go long now and have a stop at 47.52.
However, there seems to be a better risk/reward if you go
long after 50.13.
Be patient with this kind of setup since it's a daily chart.
Also, I'm new so please trade accordingly.
